Financing between MVR 50k to MVR 400k to boost production of value-added fish products

Ministry of Fisheries and Ocean Resources, in collaboration with SME Digital, has launched a new financing scheme in order to encourage increased production and market introduction of value-added fish-based products.

‘Mahaa Manfa’, a Shariah-complaint financing scheme is designed for small and medium-sized enterprises operating within the fisheries sector with the primary objective of offering accessible and convenient financial assistance to small businesses operating within the fisheries sector.

The scheme specifically focuses on supporting individuals and businesses involved in fish processing, particularly those engaged in cooking and drying fish, to help them market their products more effectively. Financial support will be provided for establishing key value-added facilities across the Maldives, packaging various fish products, and implementing systems to reduce spoilage and ensure proper preservation.

Under this initiative, collateral-free financing ranging from MVR 50,000 to MVR 400,000 will be available for purchasing equipment, tools, and other necessary items for fish processing. The scheme offers a repayment period of up to seven years, including a six-month grace period, at an interest rate of 6 percent per annum—the lowest currently offered to fishermen in the Maldives.

SME Digital CEO Badhurudheen Hassan commented said the initiative represents a major step in strengthening the Maldivian fisheries sector and expanding the role of small businesses.

“The financing will help businesses produce value-added fish products, boost productivity, and improve quality. It is expected to increase fishermen’s earnings, promote fisheries exports, and enhance the visibility and competitiveness of Maldivian fish products internationally,” he added.

Over the past two years, the Ministry of Fisheries and Ocean Resources and SME Digital have worked together to provide financial assistance to many beneficiaries, supporting the growth of MSMEs in the reef fisheries sector.

Applications for the 'Maha Manfaa' scheme will open on December 13, 2025, via the SME Portal at www.smedigital.mv.