Applications open under MVR 278 million fisheries matching grant programme

Applications have opened under five windows of the Aaruveri Matching Grant Programme, which provides financing for investments across fisheries, mariculture, circular economy and small business development.

The programme has a total grant value of MVR 278 million, equivalent to USD 18 million, and is being implemented under the World Bank-supported Transforming Fisheries Sector Management in the South-West Indian Ocean Region and Maldives (TransFORM) project.

Applications for the current grant windows are open from 1 November to 30 November 2026.

The five open windows cover fishing fleet decarbonisation, circular economy development, mariculture development, fish processor development and SME development.

Under the Fishing Fleet Decarbonization Grant, applicants can access financing of up to approximately MVR 3.08 million for investments aimed at improving energy efficiency and reducing the carbon footprint of fishing vessels.

The Processors Development Grant offers the largest financing ceiling among the currently open windows, with grants of up to approximately MVR 12.77 million available to established fish processing businesses seeking to modernise and improve competitiveness.

The SME Development Grant provides financing of up to approximately MVR 2.78 million for investments in innovative processes, systems and equipment for value-added fish products, with special consideration given to women- and youth-owned businesses.

Mariculture projects can receive up to approximately MVR 1.28 million, while the Circular Economy Development Grant provides financing of up to approximately MVR 1.08 million.

The matching grant programme can finance up to 40% of approved investment costs, with applicants required to meet the eligibility conditions set for each grant window.

The programme is aimed at supporting decarbonisation, sustainable production, greater participation by SMEs and increased employment and entrepreneurship opportunities within the fisheries sector.