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Loans worth MVR 13 million disbursed to farmers: Ministry

Agriculture Ministry has stated that farmers have been issued loans worth MVR 13 million until April this year under the loan scheme run in collaboration with SDFC. Details of the farming systems set to be provided for farmers along were shared as well.

Aishath Shuba Solih
27 May 2024, MVT 15:46
A farmer working in Alif Alif atoll Thoddoo. -- Photo: Fayaz Moosa / Mihaaru News
Aishath Shuba Solih
27 May 2024, MVT 15:46

Ministry of Agriculture and Animal Welfare stated that famers have been issued loans worth MVR 13 million until April this year.

Minister of State for Agriculture and Animal Welfare, Mariyam Vishama Ahmed, stated that individuals were issued loans amounting to MVR 4 million until the end of April, while MVR 8 million was disbursed to businesses this year.

"A total of MVR 13 million has been disbursed so far." she said.

Revealing that this loan scheme is operated in collaboration with SME Development Finance Corporation (SDFC) under the name "Dhanduveri Nafaa", or 'Farming Profit' she said that the loans disbursed under this scheme will assist farmers in investing in state-of-the-art technology for farming.

While nearly 7,699 farmers currently operate in the country, women make up 55 percent of the total farmers in Maldives.

Vishama stated that two islands; Alif Dhaalu atoll Omadhoo and Faafu atoll Dharanboodhoo has been allocated to begin hydroponic farming and said efforts to establish this has already commenced.

"Every one in 10 farmers in these islands will be provided with a pipe system to cultivate 50 lettuce and a trough system that allows 25 cucumber melons to be grown will be offered." she said.

The Agriculture Ministry has stated that that the program launched in both these islands will be concluded and assigned to the farmers during September this year. Vishama added that the system will produce 12kg of leafy plants while the cucumber systems will produce 66kgs on average.

In addition to hydroponics, the Ministry has further has decided to implement vertical farming in Lhaviyani atoll Naifaru, Raa atoll Hulhudhuffaaru, Noonu atoll Kendhikulhudhoo and Thaa atoll Kinbidhoo.

"Four aeroponics systems and twelve pineapple towers will be installed in each greenhouse. A total of 14 systems will be installed. Our focus is on planting a variety of greens." she said.

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