Discussions have been held on ways the World Bank can further assist in the development of the Maldives' fisheries industry.
These discussions took place during a meeting held today between Fisheries Minister Shiyam and Ann Jeanette Glauber, the World Bank's Practice Manager for Environment, Natural Resources, and the Blue Economy for the East Asia and Pacific region, who is currently visiting the Maldives.
The meeting, held today at the Fisheries Ministry, was attended by senior officials of the ministry and members of the World Bank delegation.
During the meeting, discussions mainly focused on finding ways the World Bank can further assist in developing the Maldives' fisheries sector, building on the progress of the World Bank-funded Transform project. Key areas of discussion included finding innovative solutions to advance the fisheries sector and exploring ways to utilize the sustainable fisheries-related work carried out by the Maldives.
At the meeting, the Minister stated that 65% of the fish purchased by MIFCO is exported as raw fish, and the government's aim is to reduce this amount by processing the fish. He also noted that work is underway to establish fish processing facilities in three regions of the Maldives. Furthermore, the Minister highlighted that it is a policy of President Dr. Mohamed Muizzu to convert 35% of the fuel expenditure used by companies to renewable energy.
During the meeting, Ms. Ann Jeanette Glauber stated that there are ways to obtain financing for sustainable fisheries-related work in the environmental sector, women's empowerment, and other areas, and that a World Bank team will visit the Maldives in November this year to formulate a plan in collaboration with the ministry.
