Philippine Rise Integrated Conservation for Enduring Legacies through Ecosystem Support Services (PRICELESS) By 2027, the Philippine Rise Marine Resource Reserve of 352,390 hectares, consisting of a 49,684 hectares Strict Protection Zone and a 302,706 ha Multiple Use Zone, is conserved and better managed, protecting globally significant biodiversity while facilitating the sustainable use of its marine resources and generating livelihood benefits for adjacent communities Note: Disbursement data provided is cumulative and covers disbursement made by the project Agency. The core group of beneficiaries are 5,000 people who depend directly on fishing in the Philippine Rise; this group will benefit from the PRICELESS project through the following:· Improved marine ecosystems resulting in improved livelihoods and food security· Increased opportunities for income related to sustainable fishing as well as other livelihoods. In particular, the project will provide capacity building and material support to community members for biodiversity-friendly enterprises (BDFEs).While the impacts of the PRMRR on municipal coastal fisheries will depend on connectivity and other factors, it is expected that PRMRR protection will lead to increased fisheries productivity. The aforementioned potential increase in fishery production can translate to increase in  income of fisherfolks in the identified coastal municipalities in close proximity to the Philippine Rise. Men and women who are currently or will be engaged in other livelihoods linked to capture fishing also stand to gain from any improvement in fisheries productivity. These livelihood activities include fish vending, gleaning, fish processing, etc. Fish and fish products constitute a major portion in the Filipino food consumption comprising 11.9% of total food intake compared to the 7.3% for meat and products and 3.3% for poultry, therefore improved management of the PRMRR has the potential to improve food security for the coastal provinces. As noted above, the project will work with Local Government Units to identify means of capturing the impact of improved fisheries productivity on trends in incomes and food security.The local economies of the identified coastal municipalities of the 7 provinces can potentially benefit from the Biodiversity Friendly Enterprises (BDFE) supported by Component 3 of the PRICELESS Project. This may be not only through newly-created enterprises but also through the expansion or scaling-up of existing micro or small enterprises. An MSME in the Philippines is defined as any business activity or enterprise engaged in industry, agri-business and/or services that has: (1) an asset size (less land) of up to PhP100 million; and (2) an employment size with less than 200 employees.[1] The multiplier effect of this enterprise creation can be generated for the ancillary industries that support the value chain. For example, in fisheries this may include boat building, boat engine supply and maintenance, and fishing paraphernalia. Added to these will be the inter-industry links to biodiversity conservation like eco-tourism and its allied services.Sustaining the BDFEs promoted by PRICELESS in the provinces/municipalities can contribute to local government revenues. A local government’s regular income is the total of locally sourced revenues plus the internal revenue allotment (IRA) plus other shares of national tax collection. The enterprises can contribute to the locally sourced revenues which is made up of real property tax plus tax on business and other taxes, plus service/user charges plus receipts from economic enterprises. More income for local governments can augment their resources for the delivery of basic social services to the communities.The Conservation Agreement program supported by Component 3 of the Project will provide additional benefits to communities involved in protecting PRMRR. These may include support for income-generation activities, as well as other benefits related to health, education, or savings.Finally, the project will generate benefits in the form of education and capacity-building related to marine conservation, as well as other ecosystem service benefits from protection of the PRMRR.