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Maldives - Fisheries Project (English)

The Fisheries Project for Maldives will mechanize traditional fishing vessels, implement a frozen fish export scheme, develop offshore resources, and institute a technical assistance program. Fishing is the main industry of the Maldivian economy. It is the principal source of cash income for people living outside the capital city of Male. Eighty percent of the male Maldivian work force of 44,000 is directly or indirectly engaged in fisheries. Fish exports are the principal source of foreign exchange. However, Maldivian fisheries depend heavily on imports of machinery and other equipment to run its industry. As a result, the country is extremely dependent on imports and not very self sufficient. The Fisheries Project will help to alleviate this dependency by increasing production and improving the safety and efficiency of fishing operations and marine transport. Its components are: 1) credit to fishermen for the motorization of 500 sailing vessels; 2) five maintenance and repair centers for mechanized fishing vessels; 3) installation of ten navigation lights, twenty reef marker buoys, one hundred reef entrance markers and twenty fishing ground marker buoys; 4) implementation of technical services; and 5) implementation of technical assistance comprising: a) training of fishermen, b) development of improved vessel designs, and c) preparation of a feasibility study for a follow up investment project.

Details

  • Document Date

    1979/05/31

  • Document Type

    Memorandum & Recommendation of the President

  • Report Number

    P2527

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Maldives,

  • Region

    South Asia,

  • Disclosure Date

    2010/06/24

  • Disclosure Status

    Disclosed

  • Doc Name

    Maldives - Fisheries Project

  • Keywords

    maintenance and repair;net foreign asset;aids to navigation;technical assistance program;provision of credit;world market price;local competitive bidding;condition of effectiveness;open market rate;source of revenue;export of commodities;vessels at sea;rate of growth;foreign shipping company;balance of payment;initial capital cost;price of rice;number of tourists;per capita income;result of change;extension of credit;quantity of fish;higher fuel price;safety at sea;debt service ratio;foreign exchange risk;operation and management;annual budgetary allocation;fishing vessel owners;weights and measure;rates of exchange;coral island consisting;frozen fish;fish exports;administrative accounting;cold storage;fuel distribution;foreign company;navigational aid;fishing operation;bilateral aid;financial rate;free market;skipjack tuna;market problem;foreign expenditure;navigational lights;fishing ground;project costing;import duty;resort hotels;fresh fish;investment program;canned tuna;fishing sector;earth satellite;government budget;export duties;repayment period;external assistance;export earnings;fishery production;Tourist Hotel;grace period;adequate supply;agricultural output;dried fish;consumer good;current expenditure;export market;commercial bank;Exchange Rates;refrigeration equipment;marine transport;agricultural production;annual catch;export product;fishing effort;vessel design;yellowfin tuna;consumer goods;fishery sector;external transactions;local consumption;fish marketing;navigation aid;seasonal distribution;sandy soil;plant disease;tropical climate;islamic law;wheat flour;tourist resort;foreign enterprise;local trade;monetary transaction;long range;jet aircraft;administrative purposes;direct flight;traditional fishing;project execution;credit program;policy statement;government fund;currency cost;fishing technique;catch statistics;credit operation;local costs;separate account;audited account;pricing mechanism;adverse conditions;fish production;appraisal mission;export schemes;poultry meat;largest markets;repayment system;credit effectiveness;state official;steel structure;local expenditure;marketing infrastructure;home base;food staple;sweet potato;severely limits;loan repayment;dollar value;gross earnings;market operation;foreign operators;marketing companies;fuel shortage;fish resource;short supply;trace element;world price;productive area;absentee owner;fuel supply;catch fish;canned fish;composite economic;legal instrument;project datum;infrastructure cost;marketing opportunities;currency purchase;mother ship;financial benefit;complementary investment;fishing method;foreign indebtedness;foreign financing;concessionary term;grant element;consumer expenditure;bank group;tax base;banking system;foreign borrowing;sustainable yield;marine catch;domestic price;natural phenomenon;essential goods;textile items;staple food;tourism sector;merchandise import;cash reserve;government revenue;domestic retail;tourist season;luxury items;import finance;contract terms;domestic origin;essential commodities;tourism trade;sliding scale;merchandise export;direct taxation;traditional market;government development;commodity loan;tax rate;local fishermen;political parties;political party;legal system;short-term training;outstanding balance;export tax;commercial rates;total credit;financing plan;coral atolls;land area;Financing plans;government receipt;high capital;crop cultivation;census results;salted fish;transit trade;cash balance;judicial branch;local price;executive branch;public safety;budget deficit;home affairs;monetary authority;universal suffrage;

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Citation

Maldives - Fisheries Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/778111468120860178/Maldives-Fisheries-Project