XN000022-1972-12-27 — Page 5

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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