An information session regarding the project to establish Refrigerated Sea Water (RSW) systems on fishing vessels has been held in Sh. Komandoo.
According to the Fisheries Ministry, the session held yesterday at the Komandoo Council Office was conducted by the Ministry's RSW Project Management Unit. The session, attended by council members and fishermen from the island, shared information about the RSW system and the soft loan arranged for its installation. The Ministry also stated that discussions were held on the importance of the RSW system in maintaining the quality of the fish caught by fishermen.
The main objective of the trips being made by the Ministry's teams to four atolls is to provide assistance to vessel owners wishing to apply for the soft loan issued for RSW installation, and to closely provide important information related to this to the fishermen. The Ministry's RSW Project Management Unit has also conducted similar sessions in Th. Hirilandhoo and Veymandoo. The Ministry stated that activities related to this are also ongoing in HA. Ihavandhoo and Naifaru.
The loan, issued jointly by the Fisheries Ministry and SDFC to install RSW systems on fishing vessels, is provided 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 has been arranged through the Islamic financing scheme opened by SDFC under the name "RSW Financing". Applications for this loan must be submitted through 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 the processing of applications from eligible parties will proceed as applications are received.
