Minister Ahmed Shiyam participated in the LLF Knowledge-Sharing Forum at the sideline of IsDB Annul Meeting 2025

Minister of Fisheries and Ocean Resources, Ahmed Shiyam, attended the 2025 Islamic Development Bank (IsDB) Annual General Meeting on a special invitation from the Islamic Development Bank (IsDB) and the Lives and Livelihoods Fund (LLF). The event was held at the Centre International de Conférences—Abdelatif Rahal in Algeria on 22 May.

Minister Shiyam participated as a panelist in a special knowledge-sharing event hosted by the Lives and Livelihoods Fund (LLF) titled “Transforming Lives and Livelihoods – Mobilise for Impact.”

The forum aimed to highlight the significant contributions of the Lives and Livelihoods Fund (LLF) across 32 countries, showcasing its impact in nations such as the Maldives, Sierra Leone, and Tajikistan.

Minister Ahmed Shiyam highlighted the impact of the IsDB- and LLF-funded project in the Maldives, addressing key challenges such as the high capital costs associated with vessel construction and maintenance, rising fuel prices, and the logistical difficulties and expenses involved in procuring ice. Minister stated “Access to finance remains one of the biggest barriers, especially given the informal or family-owned nature of our fishing operations. This is where the project supported by the IsDB and LLF is making a real difference.”

Minister Ahmed Shiyam explained how the project aligns with national development strategies, stating “The project is not operating in a vacuum. It is aligned with several key policies of President Dr Mohamed Muizzu that promote investment in innovative solutions and modern technology to transform our fishery, particularly those that improve the quality of catch and enhance the efficiency of the fleet.”

Minster  also highlighted the increasing presence of women in post-harvest and processing stages within the fisheries value chain. He emphasised the Ministry’s efforts to build on this momentum through targeted interventions for women and youth.

In his closing remarks, Minister Shiyam expressed gratitude to the IsDB and LLF for their support and conveyed interest in scaling up such initiatives.

The ongoing RSW Financing Facility is a development initiative funded by the Lives and Livelihoods Fund (LLF) and the Islamic Development Bank (IsDB), aimed at improving fishing vessel operations in the Maldives.

This programme facilitates the modernisation of vessels by equipping them with Refrigerated Sea Water (RSW) systems and Solar Photovoltaic (PV)-based power supplies, thereby enhancing efficiency and sustainability within the sector.

Since the launch of the second phase of the RSW Financing Facility, a total of 59 applications have been received. Of these, 21 applications have been approved to date, with financial disbursements successfully completed for 14 approved applicants.