Applications Open for 'Aaruveri' Matching Grant with 278 Million Rufiyaa Budget

The opportunity to submit proposals for the 'Aaruveri' Matching Grant under the Transforming Fisheries Management in the South West Indian Ocean Region and Maldives Project has been opened. The grant scheme, jointly run by the Government of Maldives and the World Bank, has a total budget of 278 million Rufiyaa, making it a significant step to advance and financially strengthen the fisheries industry. Proposals are now being accepted for five out of the seven sectors of the programme. These include the Fishing Fleet Decarbonization Grant to reduce fuel costs on fishing vessels, the Coastal Economy Development Grant for economic development of islands allocated for agriculture and fisheries, the Mariculture Development Grant for individuals and companies in the mariculture sector, a grant for implementing a development project that strengthens competition among fish processing entities, and the SME Development Grant to increase value-added fish products from small and medium enterprises with special attention given to women's and youth businesses. Under the scheme, 40 percent of the cost of approved projects will be provided as free assistance. Key objectives include energy conservation in the fisheries industry, promoting sustainable production practices, creating a conducive environment for small and medium-sized businesses, developing mariculture as a profitable industry, and increasing business and employment opportunities for women and youth. Interested parties must submit proposals via the designated portal before 12:00 on Wednesday, November 30, 2026. The Ministry of Fisheries has stated that applications will be rejected if all required documents are not submitted along with the application.