The agreement is a follow up of EMMA1. from 2005. NORAD grants 2.1. million NOK (approx. 17 million pesos) to finance the project, planned for 2010 and 2011. The Norwegian company Akvaplan will assist in the implementation of the project in co-operation with BFAR (Bureau of Fisheries & Aquatic Resources).
During the short ceremony in the Department of Agriculture secretary Yap expressed his gratitude to NORAD for supporting the project. He stressed the importance of further developing the aquaculture sector of the Philippines, and invited to more cooperation with Norway. Ambassador Solem was happy that it was now possible to sign the agreement, and thus follow up the EMMA 1. The Ambassador stated that he looks forward to a speedy implementation of the agreement, and also to enhanced bilateral cooperation in the fishery sector in general, and aquaculture in particular.