Information sessions and a training workshop regarding the Murabaha facility for establishing Refrigerated Sea Water (RSW) systems on existing and newly built fishing vessels have been held in Hithadhoo, Addu City.
Conducted with the assistance of the Addu City Council, the primary focus of this training programme was to teach the technical skills required for installing and optimally utilizing RSW systems. Furthermore, the Ministry of Fisheries stated that important information was shared regarding temperature maintenance, necessary insulation work for retaining coldness, piping design, hygiene standards, and troubleshooting common issues encountered at sea.
Establishing RSW systems on fishing vessels is a project carried out with the assistance of the Lives and Livelihoods Fund (LLF) and the Islamic Development Bank (IsDB). The project aims to elevate the living standards of those active in the fisheries sector and provide sustainable, energy-efficient technology to fishing vessels. This system will enable self-sufficiency in maintaining the quality of the catch.
A Murabaha RSW financing facility has been established to install RSW systems on vessels under the "Support People's Livelihoods in the Fishery Sector in Maldives through Sustainable Energy" project. This facility provides financing for establishing RSW systems on fishing vessels, purchasing generator sets, and acquiring solar power panel systems. Under this facility, up to MVR 2,000,000 is disbursed, with a profit rate calculated at 6% per annum. The government covers 35 percent of the cost of items acquired under this facility. The financing is provided with a maximum repayment period of 10 years, including a 6-month grace period.
