Minister of Fisheries, Marine Resources and Agriculture Zaha Waheed has stated up to USD 1.3 million has been issued under the loan facility established to resolve the difficulties faced in the yellowfin tuna fishing industry.
Speaking at the daily press briefing held at National Emergency Operation Centre (NEOC), the fisheries minister said loans worth USD 1.3 million have been issued to four companies active in the yellowfin tuna fishing industry. The minister noted the loan facility was established to ease the repayment of loans taken to build vessels and install engines, adding the loan facility will also help to overcome the financial difficulties currently faced by fishing companies.
The loan facility, which amounts to a total of USD 6.5 million, was established last month after discussions between the fisheries ministry and the Ministry of Economic Development. Additionally, the two ministries also held discussions with fish exporting companies and fishermen to discuss ways to resolve the issues faced by the industry during the COVID-19 pandemic.
The fisheries ministry stated measures are being taken to minimise the impact of the pandemic on the fisheries sector and to ensure the industry does not come to a standstill.