The Ministry of Fisheries, Agriculture and Ocean Resources conducted an information session in GN. Fuvahmulah today regarding the "Aaruveri" Matching Grant scheme, administered under the World Bank-funded TransFORM Project.
According to the Ministry, a technical team alongside the TransFORM project team briefed local entrepreneurs and stakeholders on the grant windows opening next month. Officials provided a step-by-step guide explaining application procedures via the dedicated portal (aaruveri.fishagriocean.gov.mv), following the initial program launch initiated by Fisheries Minister Ahmed Shiyam in late August.
The Aaruveri initiative is an overall MVR 278 million financing facility offering up to 40% matching grant support for eligible ventures across seven distinct categories, with allocations ranging from MVR 1 million to MVR 30 million per approved project. Initial calls focused on tin-can manufacturing (up to MVR 30.84M), processing decarbonization (up to MVR 30.84M), and circular economy waste management on leased islands (up to MVR 1.08M), with proposals submitted ahead of the September deadline. Upcoming sessions will highlight remaining grant windows, including 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).
The Ministry emphasized that the program forms a core pillar of President Dr. Mohamed Muizzu’s economic policy to ensure self-reliance, competitiveness, and sustainability for private corporations, SMEs, and individual fishers. The scheme is executed under the broader USD 64.8 million TRANSFORM project running from 2023 to 2030 to strengthen regional ocean management and enhance Maldivian fisheries resilience.
