The Ministry of Fisheries and Ocean Resources, in partnership with SME Digital, has launched a new financing programme titled Maha Manfaa to support small and medium enterprises in the fisheries sector.

The initiative aims to expand opportunities for businesses involved in fish processing, value addition and product marketing, strengthening one of the most vital segments of the national economy.

A key focus of Maha Manfaa is to provide financial assistance to small-scale operators engaged in fish preservation and smoking, helping them increase production capacity and bring their products to market more effectively. The scheme also extends support for establishing value addition facilities, improving packaging standards and enhancing storage systems across the country.

Under the new programme, businesses can access financing between MVR 50,000 and MVR 400,000 without any collateral. The funds may be used for purchasing equipment, upgrading facilities and obtaining materials required for fish processing and related activities. Repayments can be made over a period of up to seven years, including a six-month grace period. With an annual interest rate of 6 per cent, the scheme offers the most favourable financing currently available to fishermen and fisheries-related businesses in the Maldives.

In the past two years, a number of reef fishing enterprises have already benefited from financial assistance provided through previous collaborations between the Ministry and SME Digital. Maha Manfaa is expected to further expand this support and stimulate entrepreneurship within the fisheries sector.

Applications for the new scheme will open on 13 December 2025 through the SME Digital portal.