(Tuna Long Line) Fishing Industry request Assistance
A Request from the (Tuna Long Line) Fishing Industry to Government for Assistance has received Cabinet approval. Cabinet has approved the removal of a significant part of the interest accrued on loans taken out by local fishermen in this Fishing Industry from the Development Bank of Samoa.
The Government assistance will provide some relief for the fishing entrepreneurs, as the fishing industry faces a notable decline in catch at this particular time. This decline in catch has resulted in a drop in revenue earned. The returns from fishing go towards the further development of the local fishing industry in the form of fishing crew’s wages, fishing equipment and the vessel.
Added: 29th June 2004