Mariculture Enterprise Development Project
The overall goal of this project is to expand livelihood opportunities and reduce vulnerability. Its development objective is to enhance incomes and employment from mariculture activities (i.e., the cultivation of marine organisms), especially for young people and women.
The project's two components involve strengthening institutions and developing the mariculture value chain. The institutional strengthening component aims to enhance the capacity of the Ministry of Fisheries and Agriculture to regulate and manage the mariculture industry. The value chain development component seeks to create employment for poor households by promoting private-sector participation in the mariculture chain.
The project is national in scope, with the exception of the Maldives' capital, Malé. Islands included in the project area meet various criteria, including:
- The presence of suitable lagoons for mariculture
- Limited employment opportunities for local people
- Community interest in pursuing mariculture
- Supportive island councils
- Willingness of the private sector to invest in these islands.
The target group includes young women and men interested in mariculture, small entrepreneurs along the mariculture value chain and private-sector firms willing to invest in this sector. The project is expected to directly benefit some 3,000 households comprising about 18,000 people.
06 September 2012
2012 - 2019
Total Project Cost
US$ 7.13 million
US$ 2.49 million
Private sector local US$ 2.76 million
National Government US$ 1.12 million