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Second Fisheries Project

Second Fisheries Project

The project areas included atolls north and south of Kaafu, the atoll on which Malè, the capital, is located. All of the atolls had a good potential for increased fish production. The target group included about 4,600 fishers engaged mainly in tuna fishing aboard some 175 fishing vessels. The project also benefited traditional fishers fishing the coastal reefs.

The main objectives of the project were to:

  • strengthen infrastructure support to the fisheries sector
  • introduce a system of fish pricing that would be conducive to increased production
  • develop new export markets and local entrepreneurship

The project supported strategic investments in infrastructure such as a refrigeration complex, a fleet of four fish-collection vessels, fuel distribution facilities and a fleet of 20 fishing vessels of improved design. The investments contributed to raising the productivity and incomes of the country’s small-scale fishers.


Source: IFAD


Status: Closed

Country

Maldives

Approval Date

09 December 1982

Duration

1982 - 1990

Sector

Fisheries

Total Project Cost

US$ 12.41 million

IFAD Financing

US$ 1.81 million

Co-financiers (International)

World Bank: International Development Association US$ 5 million

Norway US$ 4.1 million

Financing terms

Highly Concessional

Project ID

1100000112


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