An information session on the "Aaruveri" Matching Grant scheme was conducted in Addu City by a technical delegation from the Ministry of Fisheries, Agriculture and Ocean Resources and the World Bank-funded TransFORM Project.
The Addu City session forms part of an ongoing nationwide community outreach campaign following a similar session recently held in Gn. Fuvahmulah. Officials briefed local entrepreneurs, vessel owners, and stakeholders on the application procedures and eligibility criteria for three major grant categories scheduled to officially open next month.
Key Grant Windows Opening Next Month
The upcoming phase of the program highlights four remaining grant categories, with particular focus on three major windows presented during the session:
Fishing Fleet Decarbonization Grant: Aimed at supporting energy-efficient vessel upgrades, adopting green technologies, and reducing carbon emissions across the domestic fishing fleet (up to MVR 3.08M).
Mariculture Development Grant: Designed to assist both startups and existing hatchery/mariculture ventures operated by individuals or enterprises to drive alternative ocean-based income streams (up to MVR 1.27M).
SME Development Grant: Focused on small and medium enterprises developing value-added fish products, modernized processing methods, and innovative production systems, with targeted priority for youth and women-led ventures (up to MVR 2.77M).
Applicants can access step-by-step guidance, guidelines, and submission forms directly through the dedicated portal at aaruveri.fishagriocean.gov.mv.
Overview of the Aaruveri Facility
Officially launched in late August by Minister of Fisheries, Agriculture and Ocean Resources Ahmed Shiyam, the Aaruveri initiative is a MVR 278 million (USD 18 million) matching grant facility. It provides up to 40% co-financing support for approved ventures across seven specialized categories, with individual project allocations ranging from MVR 1 million to MVR 30 million.
The facility operates under the broader USD 64.8 million Transforming Fisheries Sector Management in South-West Indian Ocean Region and Maldives (TransFORM) Project. Running from 2023 to 2030, the World Bank-supported project aims to reinforce sustainable regional ocean management, enhance supply chain resilience, and accelerate economic growth across the Maldivian fisheries and mariculture sectors.
