As an island nation with 99 percent of ocean territory, the government has identified mariculture as a pivotal industry capable of delivering substantial economic benefits to the public while diversifying the national economy beyond its traditional tourism base.
In pursuit of this objective, the government has launched a comprehensive framework of financial incentives, skill development programmes, and infrastructure investments designed to position the Maldives as an emerging hub for sustainable marine cultivation in the Indian Ocean region.
SME Digital has disbursed loans totaling USD 31,127 through the newly established Mariculture Scheme, a dedicated financial assistance programme aimed at supporting entrepreneurs seeking to enter the marine hatchery sector. Under this initiative, the scheme targets the financing of 200 fish pens across designated zones, with individual financial assistance ranging fromUSD 5,187 to USD 41,502. Loan recipients benefit from a maximum repayment period of six years, which includes an initial grace period of six months to allow adequate time for operations to generate returns before debt servicing obligations commence.
The administration has pinpointed five specific locations including the southern atolls, along with Raa Atoll, Meemu Atoll, and Thaa Atoll. Additionally, the government has designated a lagoon situated around two kilometers from Maaniyaafushi as a dedicated mariculture zone.
Complementing the financial architecture supporting mariculture investment, the government has inaugurated the Marine Hatchery Skills Development Programme, a vocational initiative implemented jointly by the Ministry of Fisheries, Agriculture and Ocean Resources and the Maldives Marine Research Institute. The programme receives technical support through the World Bank-funded Transforming Fisheries Sector Management in South-West Indian Ocean Region and Maldives Project. This skills development initiative targets young people across the islands, providing them with specialized competencies in marine hatchery operations and establishing a sustainable pipeline of labour for the expanding industry.