Information sessions regarding the project to establish Refrigerated Sea Water (RSW) systems in fishing vessels have been conducted in two islands of Thaa Atoll.
These sessions, held in Th. Hirilandhoo and Veymandoo, were conducted to provide information about RSW to fishermen and councils, and to assist vessel owners who wish to apply for the soft loans issued for installing RSW systems. Information in these sessions was provided by teams from the SME Development Finance Corporation (SDFC) and the Ministry of Fisheries and Ocean Resources.
The Ministry stated that the teams that traveled to Thaa Atoll will return to Male' today after concluding the sessions. Furthermore, teams are currently active in Lh. Naifaru and Sh. Komandoo conducting RSW sessions, and these teams will return to Male' next Monday, the Ministry said.
This loan, issued jointly by the Fisheries Ministry and SDFC to install RSW systems in fishing vessels, is issued in accordance with Islamic Sharia principles. This is a collateral-free loan of up to two million Rufiyaa, with a six-month grace period. The Ministry stated that financing for this is arranged through the Islamic financing scheme opened by SDFC under the name "RSW Financing". Applications for this loan should be submitted via the SDFC portal (https://portal.sdfc.mv).
The opportunity to submit applications for this loan is open until the 30th of next month. SDFC has previously stated that they will process applications of eligible parties as they are received.
