Ministry invites applications for loans to expand fisheries and agriculture sector

The Ministry of Fisheries and Agriculture has called for applications for loans worth MVR 8.6 million, aimed at diversifying and increasing production in the local fisheries and agriculture sector.

A ministry official told Sun Online that the loans would be issued under a program initiated by the International Fund for Agricultural Development (IFAD).

He said that people involved in the production of food items such as mango chutney or packaged fish, are welcome to apply for the loan.

He added that loans between MVR 25,000 and MVR 400,000 would be issued under this program, and the total number of loans would be decided based on the number of applications.

The application form is available on the Fisheries Ministry website, and from Bank of Maldives (BML).