Loans have been disbursed to 89 fishermen registered in the National Register of Fisheries, the Fisheries Ministry has said.
According to information published on the government’s Sarukaaru website, the loans were issued after the government introduced a financing scheme for fishermen listed in the national registry.
The loans are provided through the Bank of Maldives (BML) via its fishermen portal.
Fishing was formally designated as an occupation on April 28 last year, allowing registered fishermen to access financing. The first loans under the scheme were issued in May last year.
Fishermen listed in the registry are also eligible for other credit facilities, including personal financing, credit cards and housing loans, based on their income.
Eligible fishermen can obtain personal financing of up to MVR 300,000 without collateral or equity.
The Fisheries Ministry said efforts are ongoing to register fishermen in order to expand access to financial assistance through banks and other financial institutions.
The national register of fishermen was launched in February last year.
