The government has opened the opportunity for individuals to apply for loans as part of the initiative to establish Refrigerated Sea Water (RSW) systems and solar power systems on fishing boats.
The project is being implemented jointly by the Ministry of Fisheries, Marine Resources and Agriculture, and the Ministry of Economic Development. The opportunity to apply for the funds required to install the systems is open from May 23 until the end of December. The applications should be submitted to the port of SME Development Financing Corporation (SDFC).
The loan programme aims at lessening the burden and cost on fishermen who face difficulties in obtaining ice from the ice plants located in different atolls. It is also aimed at developing the industry further and allowing fishermen to stay at sea for longer periods by keeping their catch fresh. The government is in the process of installing the systems on fishing boats to facilitate the availability of a cooling system.
Under the programme, the funds for the establishment of RSW and solar power systems are provided with the assistance of the Islamic Development Bank (IsDB). The programme is currently in the second phase and the government is in the process of issuing loans to the applications received during the first phase.
Ministry of Fisheries, Marine Resources and Agriculture Dr. Hussain Rasheed has revealed that 300 vessels have been issued loans as part of the initiative to establish RSW systems on fishing boats. He said the ministry seeks to install the RSV system in as many fishing boats as possible to improve the quality of the catch. He, therefore, urged more boat owners to join the programme.