Central Govtgeneral

Fisheries and Aquaculture Infrastructure Development Fund (FIDF)

Concessional loans with 3% interest subvention for fishing harbours, cold chain and aquaculture infrastructure.

About this scheme

FIDF was created in 2018-19 with a fund size of about Rs 7,522 crore to bridge the infrastructure gap in the fisheries sector. Nodal Lending Entities include NABARD, the National Cooperative Development Corporation and scheduled banks. Eligible projects include fishing harbours and fish landing centres, ice plants and cold storage, fish processing units, fish markets and kiosks, brood banks and hatcheries, aquaculture farms, deep-sea fishing vessels, and fish seed farms. State governments, cooperatives and private entrepreneurs can all borrow.

Benefits

Interest subvention of up to 3% per annum on the loan
Effective lending rate as low as 5% per annum for the borrower
Repayment period of 12 years including a 2-year moratorium
Loans covering up to 80% of the project cost
Covers harbours, cold chain, hatcheries, vessels and processing units

Who can apply

State governments, UTs and their entities and corporations
Fisheries cooperative federations and cooperatives
Individual entrepreneurs, private companies, SHGs and FPOs
Applicant must be able to provide the required margin and security

Documents required

Aadhaar and PAN of promoters
Detailed Project Report
Entity registration certificate
Land or water body documents
Audited financial statements
Bank appraisal note

How to apply

1Prepare a Detailed Project Report and approach a Nodal Lending Entity
2Submit the proposal to the Department of Fisheries through the state
3Central Approval and Monitoring Committee appraises and recommends the project
4Nodal Lending Entity sanctions and disburses the loan
5Interest subvention is claimed by the lending entity

Important dates

Scheme period: Extended; check the Department of Fisheries for the current window

Available in: All India

Visit the official portal