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COVID-19: Govt initiates 100 mln loan facility for fisheries industry

Ahmed Aiham
18 March 2020, MVT 21:16
Maldivian fishermen. PHOTO: DHIVEHI MASVERIN / TWITTER
Ahmed Aiham
18 March 2020, MVT 21:16

Government on Tuesday, decided to establish an MVR 100 million loan scheme within the fisheries sector to provide temporary solutions to curb the challenges faced by the sector in relation to the COVID-19 pandemic.

According to the Ministry, the loan facility will be granted to fish exporters in order to minimize economical loss to the industry.

Those who subscribe to the scheme can only purchase fish at a minimum price of MVR 25.

Ministry of Fisheries, Marine Resources and Agriculture, is also implementing measures to ease loan repayments for marine vessels and engines.

The World Health Organization has classified the spread of COVID-19 as a global pandemic. The novel coronavirus has infected more than 199,300 and claimed over 7,900 lives around the world. However, out of those infected, more than 82,700 have recovered.

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