FISHERIES AND AQUACULTURE INFRASTRUCTURE DEVELOPMENT FUND (FIDF)
Why in News?
- The Cabinet Committee on Economic Affairs has given its approval for creation of special Fisheries and Aquaculture Infrastructure Development Fund (FIDF).
Fisheries and Aquaculture Infrastructure Development Fund (FIDF):
- FIDF would provide concessional finance to State Governments / UTs and State entities, cooperatives, individuals and entrepreneurs etc., for taking up of the identified investment
- activities of fisheries development. Under FIDF, loan lending will be over a period of five years from 2018-19 to 2022-23 and maximum repayment will be over a period of 12 years inclusive of moratorium of two years on repayment of principal.
- National Bank for Agriculture and Rural Development (NABARD), National Cooperatives Development Corporation (NCDC) and all scheduled Banks shall be the nodal Loaning Entities.