The Ministry of Fisheries, Agriculture and Ocean Resources has officially opened proposals for three focal windows under the "Aaruveri" Matching Grant Program, following its official launch last Thursday by Minister Ahmed Shiyam.
The overarching MVR 278 million financing facility provides matching grants covering up to 40 percent of total project expenditures, with funding allocations ranging from MVR 1 million to MVR 30 million per approved project.
Under the current call, submissions are open across three targeted sectors:
Manufacturing Grant (Up to MVR 30.84 Million): Establishing a local tin-can manufacturing facility and expanding packaged tuna production for resort and domestic retail markets.
Fisheries Industry Decarbonization Grant (Up to MVR 30.84 Million): Integrating renewable energy systems, emission reduction technology, and smart energy solutions within fish processing facilities.
Circular Economy Development Grant (Up to MVR 1.08 Million): Upgrading infrastructure, sustainable logistics, and modern waste management systems on uninhabited islands leased for fisheries.
Proposals must be submitted through the newly launched, dedicated online portal (aaruveri.fishagriocean.gov.mv) before 12:00 PM on Sunday, September 20, 2026.
The broader 7-sector framework also encompasses Processing Development (up to MVR 12.76M), Vessel Decarbonization (up to MVR 3.08M), SME Development (up to MVR 2.77M), and Mariculture Development (up to MVR 1.27M). According to the Ministry, proposal submissions for these remaining windows will be opened at a later date.
The "Aaruveri" Matching Grant Program, is rolled out under the "Transforming Fisheries Management in South-West Indian Ocean Region and Maldives" (TRANSFORM) project, an initiative financed with World Bank support totaling USD 64.8 million. Commencing in 2023 and scheduled for completion in 2030, the TRANSFORM project aims to strengthen evidence-based fisheries management across the South-West Indian Ocean region while enhancing the competitiveness and resilience of the Maldivian fisheries sector.
Ensuring the sustainability, competitiveness, and self-reliance of private corporations, small and medium enterprises (SMEs), individual fishers, and private entrepreneurs forms a core pillar of President Dr. Mohamed Muizzu’s economic policy, with the "Aaruveri" program serving as a foundational milestone toward realizing these national objectives.
