National Bank for Agriculture and Rural Development (NABARD), National Cooperatives Development Corporation (NCDC) and all scheduled Banks are the Nodal Loaning Entities under Fisheries and Aquaculture Infrastructure Development Fund (FIDF).
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Fisheries and Aquaculture Infrastructure Development Fund (FIDF)
- The Cabinet Committee on Economic Affairs has given its approval for creation of special Fisheries and Aquaculture Infrastructure Development Fund (FIDF).
- Creation of fisheries infrastructure facilities both in marine and Inland fisheries sectors.
- To augment fish production to achieve its target of 15 million tonne by 2020 set under the Blue Revolution; and to achieve a sustainable growth of 8% – 9% thereafter to reach the fish production to the level of about 20 MMT by 2022-23.
- Employment opportunities to over 9.40 lakh fishers/fishermen/fisherfolk and other entrepreneurs in fishing and allied activities.
- To attract private investment in creation and management of fisheries infrastructure facilities.
- Adoption of new technologies.
FIDF would provide concessional finance to State Governments / UTs and State entities, cooperatives, individuals and entrepreneurs etc., for taking up of the identified investment activities of fisheries development.
Under FIDF, loan lending will be over a period of five years from 2018-19 to 2022-23 and maximum repayment will be over a period of 12 years inclusive of moratorium of two years on repayment of principal.