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Gov't issues loans to 300 vessels to install RSW systems

The Ministry of Fisheries, Marine Resources and Agriculture has revealed that 300 vessels have been issued loans as part of the initiative to establish Refrigerated Sea Water (RSW) systems on fishing boats.

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 RSW systems on fishing boats to facilitate the availability of a cooling system.

Minister of Fisheries, Marine Resources and Agriculture Hussain Rasheed Hassan said that 300 vessels have currently been issued loans to establish RSW systems. 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.

The ministry will offer up to USD32, 425 to finance the installation of RSW systems. In addition, loans will include a six-year repayment period with a 6% interest. The repayment period is six months from the date of signing the loan agreement.