The Ministry of Fisheries and Ocean Resources has revealed that over MVR 18 million has been disbursed to fishing vessels under the Kandufalhuge Nafaa Loan programme.

According to the ministry, the loans are provided to small and medium-sized enterprises (SMEs) operating in the fisheries sector as part of Government efforts to support fishermen and strengthen the industry. The loans are issued through the Ministry of Fisheries and Ocean Resources in collaboration with SME Digital, with funding provided in stages based on the needs of applicants.

Statistics released by the ministry show that loans have been issued for 47 applications, with a total of MVR 18,240,000 disbursed so far under the programme.

Authorities also noted that applications have been opened for financing to install RSW systems on fishing vesselsunder the Kandufalhuge Nafaa Loan scheme. According to SME Digital, loan approvals worth MVR 34 million have been granted for applicants under this component.

SME Digital also offers a range of financing schemes aimed at supporting SMEs, including businesses in the fisheries sector. In December 2025, the company introduced a financing product called “Vessel Financing”, designed to support the development and expansion of vessels.

The financing scheme provides assistance for building or purchasing vessels, engine construction and maintenance, and other vessel-related needs. SME Digital said the financing facility supports vessels operating in the fisheries, tourism, transportation and logistics sectors.