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Wednesday, December 27, 1972
FISHERMEN BENEFIT FROM LOAN FUNDS
Financial Help To Develop New Techniques
Financial assistance is made available by the Agriculture and
Fisheries Department from five loan funds to help fishermen use and develop
new fishing techniques.
During 1971-72, a total of 285 loans amounting to more than $4.6
million were granted to 321 fishermen.
The five loan funds are: The Fisheries Development Loan Fund, The
Co-operative for American Relief Everywhere (C.A.R.E.) Loan Fund, The World
Refugee Year Loan Fund, The Fish Marketing Organisation Loan Fund and The
F.H.O. Loan Fund (Colonial Development and Welfare Loan Fund Surplus),
The Fisheries Development Loan Fund aims at helping fishermen develop
the off-shore fishing fleet. Since the establishment of this fund in 1959,
70 loans totalling $9 million have been granted, and about $6 million have
been repaid. Three loans amounting to some $720,000 were made during the
last financial year.
The Co-operative for American Relief Everywhere (C.A.R.E.) Loan Fund
was established to make short-term loans to shrimp fishermen for productive
Since 1957, a total of 144 loans amounting to $740,000 have been
purposes.
issued to 197 people and more than $640,000 have been repaid,
The World