A delegation from the Islamic Development Bank (ISDB) has visited fishing vessels, outfitted with state-of-the-art Refrigerated Sea Water (RSW) systems designed to improve the storage and preservation of fish.

This visit, part of the efforts under the ISDB’s support for the Ministry of Fisheries and Ocean Resources, highlights the growing collaboration between the bank, the Ministry, and local stakeholders in advancing sustainable fisheries practices.

In a post shared on X, the Ministry of Fisheries revealed that members of the ISDB Group mission, alongside the Ministry's project management unit, met with boat owners involved in the initial phase of the project. The project aims to modernise the local fishing industry with the integration of both RSW systems and renewable energy solutions.

As part of the initiative, the Ministry of Fisheries has installed solar photovoltaic (PV) systems on fishing boats to complement the fish cooling systems. This integration of renewable energy sources is a component of the Ministry's strategy to enhance sustainability within the sector.

The project, which has received significant backing from the ISDB and the Lives and Livelihoods Fund (LLF), has already released funds of up to MVR 2 million. These funds, which are intended to support the implementation of the RSW systems and solar PV installations, will be repaid over a period of 10 years, ensuring long-term sustainability.

On December 19, Minister Ahmed Shiyam had met with ISDB representatives to discuss the progress of the RSW financing project. 

TThe Minister  met with Mr. Muhammad Nassis Bin Sulaiman, Regional Hub Manager of the Islamic Development Bank (ISDB), and other senior members of the ISDB Group to discuss the progress of the RSW Financing Project.

The meeting, attended by state ministers from the Ministry of Fisheries and Marine Resources (MoFOR) and representatives from the Ministry of Finance, highlighted the continued support from ISDB and the Lives and Livelihoods Fund (LLF) in improving livelihoods within the fisheries sector. 

Minister Shiyam expressed his appreciation for the ongoing commitment of these organisations in providing sustainable solutions to the challenges faced by fishermen, particularly in overcoming the difficulties of procuring ice and maintaining the quality of their catch.