Fish farmers in many countries are facing difficulties while trying to obtain bank credit due to various reasons whether related to banking system or due to technical issues. The ones related to banking procedures including any or of the issues such as lack or insufficient collaterals, land tenure, legal status and others. The obstacles of technical nature are related to the inserted pictures.
Being a Board of Trustees member for a large credit line (MSSP) designed to provide soft loans for private operations in four agricultural sectors including aquaculture. The dispersal of loans to three sectors went normal, while none of aquaculture applications was processed by the banks over almost a year.
Knowing that credit officers in the banks are not aware about aquaculture and considered the activity is a risky business and this was behind keeping the loan applications unprocessed. In order to address the problem, the credit line management along with the World Fish Center (my work place) arranged for a single orientation day which was held at the World Fish facility and attended by about 60 bankers from the collaborating banks. A combination of brief presentations and more of demonstrations on pond management ending by a fish harvest took place in that day showing how aquaculture is a manageable activity like any other agricultural sector. The positive outcome of this day was positive as reflected in processing the aquaculture applications once the regular banking requirements have been met.
