in Hong Kong is a government-established revolving fund since 1960 aimed at promoting sustainable development in the fishing industry.
Objectives:
- Provide loans to capture fishermen and fish collector owners to switch to more sustainable fisheries operations and other fisheries-related projects that reduce fuel consumption or carbon footprint without increasing fishing effort.
- Provide loans to fish farmers to develop or improve aquaculture businesses, focusing on environmentally friendly operations and enhancing quality and food safety standards of aquaculture products.
Target Beneficiaries:
- Capture fishermen and fish collector owners who are Hong Kong residents, holding valid licenses such as Vessel Operating Licence and Certificate of Ownership for Class III vessels, or locally registered fisheries co-operative societies/companies with majority local members/shareholders.
- Aquaculture operators who are Hong Kong residents holding valid licenses like Marine Fish Culture Licence, or locally registered fisheries co-operative societies/companies with majority local members/shareholders.
Application Process:
- Applicants must submit a completed application form with a proposed loan amount supported by the Director of Agriculture, Fisheries and Conservation.
- Applicants must contribute at least 10% of the total project cost from their own resources.
- Agree to the loan terms.
- Application forms can be submitted by post, in person, fax, or email to the Fisheries Credit Section of the Agriculture, Fisheries and Conservation Department.
- If submitted by fax or email, applicants must attend an interview and provide original documents for verification.
Key Features:
- Loans support switching from trawling to non-trawling fishing methods like gill netting, purse seining, cast netting, hand lining, and long lining.
- Supports environmentally friendly aquaculture development and improvement of product quality and safety.
- Since 2012, about 130 loan applications have been approved under the scheme.
- The fund encourages sustainable fishing practices and reduction of environmental impact in the fisheries sector.
This fund plays a crucial role in facilitating sustainable fisheries and aquaculture development in Hong Kong through financial assistance and technical support.
