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Fisheries Minister Ahmed Shiyam officially launches the World Bank-backed Aaruveri Matching Grant scheme under the TRANSFORM project. — Photo: Ministry of Fisheries and Ocean Resources

MALÉ: The Ministry of Fisheries and Ocean Resources has officially opened applications for the “Aaruveri Matching Grant” scheme under the World Bank-backed TRANSFORM project.

Minister of Fisheries and Ocean Resources Ahmed Shiyam launched the MVR 278 million scheme during a special ceremony today.

Designed to boost the Maldivian fisheries industry and empower sector stakeholders, the scheme provides a 40 percent matching grant for approved projects across seven priority areas:

• Energy Reduction: Lowering energy expenditure and fuel consumption across fisheries operations.

• Sustainable Production: Promoting eco-friendly and sustainable harvesting practices.

• SME Support: Establishing a favorable business environment for small and medium-sized enterprises.

• Mariculture Development: Developing mariculture and farming marine organisms into profitable businesses.

• Value-Added Processing: Building infrastructure and processing systems for value-added fish products.

• Inclusive Opportunities: Creating new business and employment avenues for women and youth.

• Digital Access & Portal Support: Providing streamlined online access, portal guidance, and administrative support for local fisheries operations.

Interested individuals, private companies, small and medium enterprises, and local fishermen can access details and submit applications through the portal at aaruveri.fishagriocean.gov.mv.

The ministry highlighted that ensuring the sustainability, competitiveness, and prosperity of fisheries businesses aligns directly with the core policies of President Dr. Mohamed Muizzu.

The grant scheme is part of the broader “Transforming Fisheries Management in South-West Indian Ocean Region and Maldives” (TRANSFORM) Project. Launched in 2023 with a total value of USD 64.8 million, the initiative aims to strengthen regional fisheries management and enhance the Maldives’ fisheries competitiveness through 2030.