Sustainable Financing for Blue Food: Financing Mechanisms, Risks, and Barriers for Fisheries MSMEs
Keywords:
Sustainable Finance, Blue Food, Fisheries Msmes, Financing Risk, Financial InclusionAbstract
The blue food sector plays a strategic role in strengthening food security and improving the livelihoods of coastal communities. However, fisheries micro, small, and medium enterprises (MSMEs) continue to face limited access to finance and high business risks. This study aims to analyze sustainable financing mechanisms, risk profiles, and financing barriers among fisheries MSMEs affiliated with KUB Binaga Sangkara II in Maros Regency, South Sulawesi, Indonesia. A mixed-methods approach with a descriptive-analytical design was employed. Primary data were collected through structured questionnaires, in-depth interviews, and field observations, while secondary data were obtained from organizational documents and relevant literature. Quantitative data were analyzed using descriptive statistics and a risk matrix framework, whereas qualitative data were examined through thematic analysis. The findings indicate that financing access remains dominated by conventional schemes, particularly government-supported microcredit and cooperatives, with limited integration of environmental and social sustainability principles. Production risks due to weather variability and market risks from price fluctuations were identified as the most significant factors affecting business stability and repayment capacity. Major barriers to financing include lack of collateral, complex administrative procedures, and low financial literacy. This study recommends the development of adaptive seasonal-based financing schemes, integration of risk mitigation mechanisms such as fisheries insurance, and financial literacy enhancement programs to strengthen sustainable finance implementation in the blue food sector
References
Adibrata, S., Pratiwi, A. N., Jesiska, A., Aulia, A., Animah, A., Purnamasari, A., Angelia, F., Rani, I. S., & Anggraini, N. (2022). Implementasi blue economy dengan pendampingan pembuatan buku profil UMKM produk olahan perikanan Desa Batu Belubang, Bangka Belitung. Indonesia Berdaya, 3(4), 1065–1072.
Allison, E. H., Perry, A. L., Badjeck, M.-C., Adger, W. N., Brown, K., Conway, D., Halls, A. S., Pilling, G. M., Reynolds, J. D., Andrew, N. L., & Dulvy, N. K. (2009). Vulnerability of national economies to the impacts of climate change on fisheries. Fish and Fisheries, 10(2), 173–196. https://doi.org/10.1111/j.1467-2979.2008.00310.x
Beck, T., & Demirgüç-Kunt, A. (2006). Small and medium-size enterprises: Access to finance as a growth constraint. Journal of Banking & Finance, 30(11), 2931–2943. https://doi.org/10.1016/j.jbankfin.2006.05.009
Bhattacharya, P., & Dash, A. K. (2020). Drivers of Blue Economy in Asia and Pacific Island Countries: An Empirical Investigation of Tourism and Fisheries Sectors. ADBI Working Paper, 1161, 1–22.
Cull, R., Ehrbeck, T., & Holle, N. (2014). Financial inclusion and development: Recent impact evidence. Focus Note CGAP, 92, 1–12. Consultative Group to Assist the Poor (CGAP).
Demirgüç-Kunt, A., Klapper, L., Singer, D., Ansar, S., & Hess, J. (2018). The Global Findex Database 2017: Measuring financial inclusion and the fintech revolution. World Bank. https://doi.org/10.1596/978-1-4648-1259-0
Food and Agriculture Organization of the United Nations. (2022). The state of world fisheries and aquaculture 2022: Towards blue transformation. FAO. https://doi.org/10.4060/cc0461en
Helmi, A., & Arif, S. (2012). Strategi adaptasi nelayan terhadap perubahan ekologis. Makara Seri Sosial-Humaniora, 16(1), 68.
Humairoh, T. L., Setyaningrum, I., & Tanaya, O. (2024). Keberlanjutan Blue Economy Melalui Kontribusi Industri Ikan Tangkap Dan Budidaya Ikan Terhadap Pertumbuhan Ekonomi Provinsi Jawa Timur. COSTING: Journal of Economic, Business and Accounting, 7(2), 3443–3452.
Kementerian Kelautan dan Perikanan Republik Indonesia, Profil Kelautan Indonesia, Kementerian Kelautan dan Perikanan Republik Indonesia, Jakarta, 2022.
Lusardi, A., & Mitchell, O. S. (2014). The economic importance of financial literacy: Theory and evidence. Journal of Economic Literature, 52(1), 5–44. https://doi.org/10.1257/jel.52.1.5
Organisation for Economic Co-operation and Development. (2020). Developing sustainable finance definitions and taxonomies. OECD Publishing.
Papur, M. G. D., Sitorus, G. A., Saribu, E. A. T., & Wuri, J. (2024). Konservasi Blue Economy untuk Meningkatkan Kesejahteraan Masyarakat Daerah Istimewa Yogyakarta. Prosiding Seminar Nasional Penelitian Dan Pengabdian Kepada Masyarakat, 2(1), 99– 103.
Prayuda, R., Sary, D. V., & Riau, U. I. (2019). Strategi Indonesia Dalam Implementasi Konsep Blue Economy Terhadap Pemberdayaan Masyarakat Pesisir Di Era Masyarakat Ekonomi Asean a. Indonesian Journal of International Relations, 3(2), 46–64.
Rahman, A., Prakoso, L. Y., & Suwito, S. (2024). Strategi ekonomi pertahanan maritim dengan penerapan blue economy. NUSANTARA: Jurnal Ilmu Pengetahuan Sosial, 11(4), 1480–1491.
Riesnandar, E., & Nuhartonosuro, I. M. (2025). Manajemen Sumber Daya Kelautan dalam Implementasi Blue Economy: Peluang dan Tantangan di Indonesia. JIIP - Jurnal Ilmiah Ilmu Pendidikan, 8(4), 3645-3652. https://doi.org/10.54371/jiip.v8i4.7567
Tambunan, T. (2019). Recent evidence of the development of micro, small and medium enterprises in Indonesia. Journal of Global Entrepreneurship Research, 9(1), 18. https://doi.org/10.1186/s40497-018-0140-4
World Bank. (2021). Mobilizing private finance for sustainable blue economy development. World Bank Group.
