Project of $7 million underway to develop mariculture enterprises in the Maldives

Minister of Fisheries and Agriculture Ahmed Shafeeu has said that a $7million project is now underway to develop mariculture enterprises in the Maldives.

Speaking to the press after inaugurating a mariculture basic course today, Fisheries Minister Shafeeu said that the Ministry is currently conducting a five-year project under the free grant aid provided by the International Fund for Agricultural Development (IFAD), an agency of the UN dedicated to eradicating rural poverty in developing countries. The agreement with IFAD was signed last January, the Minister said.

“We have signed an agreement with IFAD to develop mariculture enterprises in the Maldives. It is five-year mega project. It is a $7 million project that we are conducting under a free grant from IFAD,” Minister Shafeeu told the press.

The Fisheries Minister said that the project would facilitate for those parties interested in mariculture to small obtain financial loans from banks and that the project will also see the training of personnel for mariculture projects.

Minister Shafeeu said that the Maldives mariculture scene needs to attract more investors and that the government is in dialogue with parties in India, Thailand and other foreign countries to attract more foreign investors. He also noted the necessity of proper local professionals equipped with the knowledge of carrying out mariculture projects and that the workshop that began today is a stepping-stone for the country to achieve the larger goal.

The workshop inaugurated today is participated by 19 individuals and will be carried out for a 11 day period.