Japan extends grant to boost fisheries industry

Wednesday, 25 October 2023 00:22 - - {{hitsCtrl.values.hits}}

The Government of Japan has given its consent to provide a grant of Japanese Yen 200 million equivalent to around Rs. 435 million.

This funding is part of the Japanese Government’s economic and social development program, designed to empower the fisheries industry in Northern and Eastern provinces.

The primary objective of this initiative is to enhance the fisheries sector’s capabilities by establishing state-of-the-art freezer facilities and supplying modern electric equipment. This investment aims to facilitate higher value addition to fisheries production, ultimately leading to an improvement in the livelihoods of the fisher community in the targeted provinces.

Under this grant, a range of essential equipment will be provided to various key bodies involved in the fisheries industry. This includes ice production machines for the Ceylon Fisheries Harbour Corporation, digital scales for the National Aquaculture Development Authority, and fishing nets.

Additionally, the Department of Fisheries and Aquatic Resources will receive tractors equipped with deep freezers.

The proposal to this effect submitted by President in his capacity as the Finance, Economic Stabilisation and National Policies Minister, was approved by the Cabinet of Ministers on Monday.