Project Overview

Fisheries sector is a key player in the national economy providing employment, a source of protein in the diet and is the livelihood of almost all the inhabited islands. Tuna remains as the single most important export commodity of the Maldives earning about 160 million US$ a year. In 2014, it accounted for 1.7% of GDP and 11% of the labour force, and currently generates the equivalent of approximately $163 million in export revenue in 2013. The fisheries sector is challenged by several physical, technical, human resources and financial constraints which make it difficult for the Ministry of Fisheries and Agriculture to enable and establish sustainable development of the sector. Despite these challenges the Maldives government has a high level of commitment to manage the fisheries and is striving to achieve these objectives.

Project Development Objectives

The development objective of Sustainable Fisheries Resources Development Project for Maldives aims to improve management of fisheries at regional and national levels including support to establish mariculture in targeted atolls in the Maldives.

1. The Project Development Objective (PDO) is to enhance governance and diversified sustainable use of marine fishery resources to create job and income opportunities in the targeted atoll communities.
2. The PDO and the activities flowing from the PDO will support higher level objectives, both at regional and the national levels; in brief: to the benefit of the South West Indian Ocean (SWIO) regional agenda that aims at conservation of marine resources, and sustenance of economy and jobs.