Friday
21st Aug 2026
Dhivehi Edition
Ministry of Fisheries, Agriculture and Marine Resources
MVR 278 Million Allocated for Fisheries Sector Grant Scheme
Photo: Ministry
The Ministry of Fisheries, Agriculture and Ocean Resources has launched the "Aaruveri Matching Grant Scheme", allocating MVR 278 million in financial assistance to support businesses and individuals operating in the fisheries sector.
The scheme was officially inaugurated by Fisheries, Agriculture and Ocean Resources Minister Ahmed Shiyam at a special ceremony held at Manhattan Business Hotel.
Implemented under the World Bank-supported TransFORM project, the scheme is intended to strengthen the fisheries sector, improve competitiveness and expand opportunities for private sector participation. The TransFORM project focuses on improving fisheries management and competitiveness in the Maldives and the wider South-West Indian Ocean region.
Under the scheme, financial assistance will be provided through seven grant windows, covering:
* Development of a fish meal production facility;
* Installation of renewable energy systems at fish processing facilities;
* Installation of renewable energy systems on fishing vessels;
* Development of infrastructure on an island allocated by the ministry;
* Mariculture activities;
* Development of fish processing facilities; and
* Value-addition activities by small and medium-sized enterprises.
Approved projects will receive grant financing of up to 40 percent of eligible project costs, while applicants will be required to finance the remaining 60 percent. The official scheme portal states that individual grants range from MVR 1 million to MVR 30 million.
Minister Shiyam said access to finance remains one of the main challenges facing businesses and investors in the fisheries sector, describing the scheme as an opportunity for existing businesses to expand and for new investors to enter the industry.
The Aaruveri Matching Grant Scheme also supports fisheries, mariculture and circular economy activities, with the application portal now open for eligible applicants.