Project Launched to Support Fisheries with RSW Systems

A project has been launched in the Maldives to install Refrigerated Seawater Systems (RSW) to maintain the freshness of fish until they are weighed. 

The project titled “Support People’s Livelihood in the Fisheries Sector in the Maldives through Sustainable Energy” was inaugurated by the President to focus on addressing the challenges faced by fisherman, with the government committing to cover 35 percent of the costs for the installations of the systems. 

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A facility has been established to offer interest-free loans ranging from MVR 100,000 to MVR 2 Million to purchase refrigerated seawater systems, generators, and solar panels. Boat owners can also purchase equipment from vendors registered under the Sustainable Development Finance Corporation (SDFC). 

The introduction of these systems is expected to lower the operational costs of fishing boats by reducing the need for ice, benefiting fishermen by increasing their income. The second round of applications for the facility opened on 22 September. To date, 32 boats have applied, and 13 boat owners received letters of approval for financing. These letters were presented to the recipients at a ceremony held at the President’s Office.

Teams from the Ministry of Fisheries and SDFC have visited eight islands across five atolls to assist boat owners with the application process and provide support in completing the necessary documentation. 

Many fishing boats in the southern atolls already have RSW systems. As part of the initiative, the Islamic Development Bank (IsDB) has arranged Islamic financing for the purchase and installation of these systems on 100 additional boats. 

The government has asked those seeking further information to contact its hotline 7763310