Transforming Fisheries Sector Management in South-West Indian Ocean Region and Maldives Project (TransFORM, SWIOFish5) -P179242

The Project Development Objective (PDO) of the Transforming Fisheries Sector Management in South-West Indian Ocean Region (SWIO) and Maldives project is to strengthen regional, evidence-based fisheries management in the SWIO and to improve competitiveness in the fisheries sector in the Maldives. The project has a regional benefit focus and the sets of activities are delineated along such focus on explicit needs for activities shared by all SWIO countries, and activities undertaken in Maldives that provide regional benefits including bilateral benefits. The project's effective date is the 9th of August 2023, and its end date is the 31st of December 2030.

Component1Enhance Evidence-based Management Advice to the Fisheries Sector in the South-West Indian Ocean Region.

Component2Supporting Maldives as the Catalyst for Strengthened Regional Capacity for Fisheries Governance and Management.

Component3Enhanced Competitiveness and Private Sector Participation for improving Business Climate for Fisheries in Maldives and the South West Indian Ocean Region

This project is financed by an International Development Association (IDA) Grant. The total project cost is estimated at USD 64.8 Million, of which USD 12 million (Component 1) will be implemented by the Indian Ocean Commission. The remaining USD 52.8 Million (Component 2 and Component 3) will be implemented by the Republic of Maldives. Funds allocated for the Maldives are 50% IDA grant and 50% IDA credit.