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Fisheries Finance Program

Published on AidPage by IDILOGIC on Jun 24, 2005

Administered by:

Purpose of this program:

Provides direct loans for certain fisheries costs. Vessel financing available for the purchase of used vessels or the reconstruction of vessels (limited to reconstructions that do not add to fishing capacity). Refinancing available for existing debt obligations. FFP loans are not issued for purposes which could contribute to over capitalization of the fishing industry. Finance or refinance fisheries shore side facilities or Aqua cultural facilities. Provides Individual Fishing Quota (IFQ) financing (at the request of a Fishery Management Council). IFQ financing available at this time to first time purchasers and small vessel operators in the Halibut Sablefish fisheries. Provides financing for Community Development Quota groups fisheries investments in the Bering Sea Aleutian Islands Pollock fishery. Provides long term fishery buy back financing (at the request of a Fishery Management Council or Governor) to purchase and retire fishing permis and/or fishing vessels in overcapitalized fisheries.