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Second Fisheries Project

Maldives

Borrower Maldives
Financing Type Public Sector
Instrument Project Loan
Focus Area Agriculture
Approved 15.02.1983
Signed 26.05.1983
Status Completed
Loan Administrator IDA
Executing Agency State Trading Organization (STO)
Co-financiers IDA, Gov't of Norway, IFAD, Government
OPEC Fund Contribution (US$m) 0.90
Total Project Cost (US$m) 12.60

The main objectives of the project is to:

  • strengthen the fisheries sector infrastructure to enhance productivity of the fishing fleet;
  • introduce a more rational system of fish pricing conducive to increased production; and
  • develop new markets for frozen fish exports.
For these purposes, the project will finance investments in fuel oil distribution and fish collection and storage facilities, the lack of which greatly hampers mechanized fishing operations, and assist the Government in instituting a more rational way of determining the prices of fish paid to the fishermen.

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