“Simply penalizing does not solve the problem completely since the root of the problem lies in… being unable to make a decent living. I refuse to believe in the idea that the Filipino fishermen are lazy. They’re not. They’re just trying to make a decent living,” Ignite Impact Fund Founder Maria Antonia G. Arroyo said in a virtual interview.
“Dynamite fishing and other illegal forms of fishing are a result of desperation, lack of moderation, appropriate technology, boats, nets, and a lack of conservation and investment,” she said. The fund has invested in Plentina, a fintech that provides “buy now, pay later” store credit with major retailers for essentials and builds a credit score for the user; and BioPrime, a maker of organic soil conditioner that increases crop yield and decreases inorganic fertilizer use by 50%.