Proposals open for "Aaruveri Matching Grant" under TRANSFO Project
2 ނޮވެމްބަރު 2026 | ހޯމަ 11:40The Maldives has opened applications for five categories under the MVR 278 million "Aaruveri Matching Grant" scheme, a World Bank-funded initiative aimed at bolstering the fisheries and agriculture sectors. The program, which offers 40 percent grant funding for selected projects, is accepting proposals until November 30 with a primary focus on empowering women and youth while promoting environmentally sustainable practices within these industries.
The tuna fishery, the lifeblood of the Maldivian people. | vaguthu.mv
The "Aaruveri Matching Grant" scheme, part of the World Bank-funded TRANSFORM project, was launched on Monday to promote the Maldives' fishing industry and empower stakeholders within the sector.
Designed to advance and financially empower the fisheries and agricultural sectors, this scheme has been launched with a total budget of MVR 278 million. Of the seven categories established under the program, applications are currently open for five. For projects selected under this scheme, 40 percent of the total expenditure will be provided as a non-reimbursable grant.
The five categories opened for applications this time are:
Fishing Fleet Decarbonization Grant: Financial assistance provided to install eco-friendly systems on fishing vessels to reduce energy costs.
Circular Economy Development Grant (Agriculture): Assistance provided for the infrastructural development of uninhabited islands leased for agriculture and fisheries, as well as for the establishment of necessary systems for licensed commercial farming ventures operating on inhabited islands.
• Mariculture Development Grant: Financial assistance provided to support individuals and companies currently active in the mariculture sector, as well as those seeking to enter the industry.
Circular Economy Development Grant (Processing): Financial assistance aimed at enhancing competitiveness among fish processors and promoting sustainable increases in productivity.
SME Development Grant: This assistance is provided to small and medium-sized enterprises to enhance the production of value-added fish products and to promote business diversification. Priority will be given to businesses within this sector that are specifically led by women and youth.
The primary objectives of this scheme include enhancing energy efficiency within the fisheries sector, promoting sustainable practices, and fostering a conducive environment for businesses. Furthermore, the initiative aims to develop mariculture as a profitable industry while creating new commercial and employment opportunities for women and the youth.
Eligibility criteria and further details regarding this grant are available through the project's official portal. Interested parties are urged to submit their proposals along with the required documentation via the portal before 12:00 p.m. on Monday, November 30.
