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Largest fund in India earmarked for fisheries and aquaculture announced January 09,2019   |  Source: DAHD

The Government of India has approved the creation of the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) and its implementation from the financial year 2018-19 onwards at a total fund size of Rs 7522.48 crore (US$1,067,522,240, just over US$1 billion).

Most of the Fund (Rs 5266.40 crore or 70 per cent) will be raised by Nodal Loaning Entities like scheduled banks, the National Bank for Agriculture and Rural Development (NABARD) and the National Cooperatives Development Corporation (NCDC). The rest will come from beneficiaries' contribution and budgetary support. The loan lending period will be five years, from 2018-19 to 2022-23, and the maximum repayment period will be 12 years, inclusive of a moratorium of two years on repayment of principal.

State Governments/Union Territories have been requested to formulate specific action plan, strategy, roadmap and proposals for availing the benefits of the FIDF for development of the fisheries infrastructure facilities and their management in their respective States/UTs. They have also been requested to sensitize all the other Eligible Entities (EEs), including cooperatives, collective groups of fish farmers, self-help groups and NGOs, among others, about the provisions of the FIDF for availing its benefits.

Theme(s): Fisheries Development and Aquaculture.

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