The government has announced that the funds needed to install Refrigerated Sea Water (RSW) systems on fishing vessels as part of the Kandu Falhuge Nafaa Programme will be directly deposited into the accounts of the vessel owners.
In the past, the loans for the RSW systems were deposited into the account of the company responsible for supplying and installing them on fishing vessels. However, the Ministry of Fisheries, Marine Resources, and Agriculture has clarified that vessel owners who wish to install the RSW systems have the option to procure the system themselves and arrange for its installation independently, thereby facilitating more flexibility in the process.
The programme, which was initiated in November last year, offers a maximum amount of USD32,425 as a loan with a six-year repayment period and a 6% interest rate. These funds are specifically designated for the purchase and installation of the RSW system on fishing vessels.
The programme aims at lessening the burden and cost on fishermen who face difficulties in obtaining ice from the ice plants located in different atolls. It is also aimed at developing the industry further and allowing fishermen to stay at sea for longer periods by keeping their catch fresh. The government is in the process of installing the systems on fishing boats to facilitate the availability of a cooling system.