News Desk
SME Digital has disbursed MVR 480,000 in loans under its Mariculture Scheme, a targeted facility designed to support individuals and small businesses entering or expanding operations in the Maldives’ growing mariculture sector.
According to figures released by the institution, the scheme aims to finance 200 beach‑based units, with loan amounts ranging from MVR 80,000 to MVR 640,000. Borrowers will be offered a repayment period of up to six years, including a six‑month grace period. Officials say the facility is intended to lower entry barriers for new entrepreneurs while helping existing operators scale their activities.
The government has framed the scheme as part of a broader effort to stimulate investment in the fisheries sector and diversify coastal livelihoods. Five zones have been identified for mariculture development, including Greater Thiladhunmathi and areas within Raa Atoll. A designated site located about two kilometres off Maniyafushi has also been earmarked for industry use.
President Dr Mohamed Muizzu has repeatedly highlighted the potential of marine resources to drive regional economic growth. In line with his policy to expand ocean‑based industries, the administration has been working to make mariculture a viable and profitable sector for communities in the north. The Ministry of Fisheries, Agriculture and Marine Resources is conducting training programmes to build technical capacity and prepare new entrants for commercial operations.
Officials say the Mariculture Scheme is expected to encourage fresh investment, strengthen small and medium enterprises and support the government’s wider strategy to develop coastal economies.
