The initial application window for the government’s MVR 278 million ‘Aaruveri’ Matching Grant Scheme, tailored specifically for the fisheries and ocean resources sectors, officially closes tonight, September 20, 2026, at 12:00 AM midnight.
The Ministry of Fisheries, Agriculture and Ocean Resources formally launched the scheme and opened the submission portal on August 20, 2026. As the one-month window draws to an end, eligible stakeholders have until 11:59 PM tonight to finalize and submit their proposals through the official "Aaruveri Matching Grant Portal."
Financing Breakdown: 40% Grant, 60% Loan
Designed to foster business expansion, the program provides targeted financial backing to private companies, small and medium enterprises (SMEs), and commercial fishers across the fisheries and ocean resources sectors.
For every approved venture, project financing is structured as a co-funded arrangement: 40 percent of total project costs is provided as a non-reimbursable grant, while the remaining 60 percent is financed through commercial loans. Individual funding allocations range between MVR 1 million and MVR 30 million per approved project.
Three Priority Windows Closing Tonight
While the broader ‘Aaruveri’ program spans seven strategic pillars, the initial phase rolled out three core application windows:
MGW1: Manufacturing Grant
Objective: Establishing a modern tin can manufacturing plant in the Maldives to expand domestic canning capacity and curb reliance on imported cans.
Maximum Grant Ceiling: Up to $2,000,000 USD (approx. MVR 30.8 million) per application.
MGW2: Fisheries Industry Decarbonization Grant
Objective: Integrating renewable energy solutions and energy-efficient systems into existing fish processing facilities.
Maximum Grant Ceiling: Up to $2,000,000 USD (approx. MVR 30.8 million) per application.
MGW4: Circular Economy Development Grant
Objective: Developing infrastructure and auxiliary services on leased uninhabited islands to process and manage organic fisheries waste into usable resources.
Maximum Grant Ceiling: Up to $70,000 USD (approx. MVR 1.07 million) per application.
Upcoming Phases: Opportunities for SMEs and Fishers
Stakeholders who do not qualify or miss tonight’s deadline will have opportunities to apply under the remaining four windows during subsequent rollout phases:
MGW3: Fishing Fleet Decarbonization Grant (Up to $200,000 USD)
MGW5: Mariculture Development Grant
MGW6: Women and Youth Entrepreneurship Grant
MGW7: SME Development Grant (Up to $180,000 USD)
These upcoming phases are aimed at lowering capital barriers for independent fishers, coastal small and medium businesses, and technology-driven startups.
Submission and Support
All proposals must be submitted through the official "Aaruveri Matching Grant Portal" prior to midnight tonight. Applicants seeking technical support or submission guidance can access resources via the official Aaruveri Help & FAQ Platform.
Wider Context: The World Bank TransFORM Project
The ‘Aaruveri’ Matching Grant operates under the "Transforming Fisheries Management in South West Indian Ocean Region and Maldives" (TransFORM) Project, supported by USD 64.8 million from the World Bank. Commencing in 2023 and running through 2030, the TransFORM initiative aims to strengthen evidence-based fisheries management across the Southwest Indian Ocean region and bolster the competitiveness and self-reliance of the Maldivian fisheries sector.
Ensuring the long-term sustainability, competitiveness, and economic resilience of private enterprises, SMEs, fishers, and individual operators remains a cornerstone of President Dr. Mohamed Muizzu’s economic agenda, with the ‘Aaruveri’ program serving as a foundational pillar toward achieving these national objectives.
