This study provides strategic orientations and recommendations for Bank client countries and suggests approaches for the Bank’s role in a rapidly changing industry with high economic potential. It identifies priorities and options for policy adjustments, catalytic investments, and entry points for the Bank and other investors to foster environmentally friendly, wealth-creating, and sustainable aquaculture. The audience to which this study is addressed includes client countries’ policy and decision makers in aquaculture, fisheries, and natural resource management, as well as individuals addressing poverty issues, agriculture development, and environmental protection. The target audience also includes food industry and food trade professionals, the scientific community, development partners, and persons engaged in human capacity development for aquaculture. Aquaculture can be defined as the farming and husbandry of aquatic organisms, such as fish, crustaceans, mollusks, and seaweed, and the production of freshwater and marine pearls and a variety of other aquatic species, such as crocodiles, frogs, sponges, and sea cucumbers. (The word “fish,” unless other wise stated, is used throughout the report in the generic sense to cover all aquatic animal production, including fish, crustaceans, and mollusks.)