STO and Finance Ministry has signed a 46.3 million Rufiyaa loan agreement.
The loan will be used to overcome the challenges faced by the yellow fin tuna industry of Maldives. In addition, the money will be used to purchase modern equipment to use in fisheries industry.
In a ceremony held at Finance Ministry, Finance Minister Ahmed Munawwar signed on behalf of Finance Ministry while MD of STO Ahmed Shaheer signed on behalf of STO.
The programs financed by the loan will be implemented by MIFCO a subsidiary of STO. The money will be also used to repair the infrastructure of fisheries industry. In that regard new storage facilities will be developed and new equipment for MIFCO will be purchased as well.
STO and Finance Ministry sign a 46.3 million Rufiyaa loan agreement
