The Ministry of Fisheries, Agriculture and Ocean Resources has disbursed loans totalling MVR 15 million to 119 fishermen across the Maldives.
The loans were announced through an official social media post by the ministry. Access is tied to the national fishermen’s registry established by the current administration to formally recognise individuals working in the sector.
The scheme operates in partnership with the Bank of Maldives. An agreement was signed last year, with disbursements beginning in May. Registered fishermen can apply through the Masveriya Portal, an online platform offering Islamic financing options.
Eligible uses include vessel construction, fleet repairs, acquisition or upgrade of fishing gear, local guesthouse investments, home construction or renovations, and higher education expenses for children.
The portal aims to reduce administrative barriers by allowing digital applications without physical bank visits. Officials stated that inclusion in the registry opens direct pathways to state-backed financial assistance.
The initiative supports the fishing community, a key part of the Maldivian economy and food security. By formalising recognition and providing targeted financing, the ministry seeks to improve livelihoods and operational capacity in the maritime sector.
Further details on individual loan amounts and repayment terms are managed through the portal and the Bank of Maldives. The ministry continues to promote the registry for additional fishermen seeking support.
