State to grant loan for RSW and solar power systems in fishing vessels

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The government has decided to grant loans through the SME Development Finance Corporation (SDFC) for the installation of RSW systems or water cooling systems and solar power systems in 200 vessels to keep the tuna catch fresh,

According to the Fisheries Ministry, participation in the program will be available through the end of the year.

The Islamic Development Bank (ISD)-funded program seeks to ensure that fishermen can keep their tuna catch fresher for longer under the government’s new economic policy and to tackle difficulties created by a shortage of ice during the fishing season.

The first phase of the scheme, which will begin next year, will see the installation of water cooling and solar systems on 100 vessels.

Government encourages to apply for financing for those who want to install water cooling and solar systems. Based on the information supplied and documented in the ministry, the first part of the program will examine the information about the vessel, water cooling system, and solar power capacity necessary. Selected water cooling system will determine the loan amount. Water cooling systems, solar systems, and training are all part of the scheme.

Interested parties can apply for the loan via SDFC portal.

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