Maldives is believed to have massive potential for the development of a mariculture industry and it is a key priority sector for diversification of the fishery industry.

Under assistance from International Fund for Agricultural Development (IFAD), a hatchery is being developed, which will produce fingerlings of key fishery species.The proposed project aims to link up potential businesses to the hatchery and ensure successful take-up.

Under the project, Government is seeking partners to establish a financing mechanism for growout farmers (farmers who will rear hatchery-produced aquatic organisms to market size) as well as provide necessary technical training to the farmers to rear the organisms and bring them to the market.