Press briefing of Cabinet Decision taken on 2021-11-01

Implementation of a concessionary loan scheme for intensification of Shrimp Farming with the objective of increasing production and exports

- The National Aquaculture Development Authority of Sri Lanka (NAQDA) has planned to increase the country's shrimp production of around 8,000 MT in the year 2020, up to 50,000MT by 2025. With a view to increasing the shrimp production in the years 2019 and 2020, farming of Vannamei shrimps has been introduced. There is a possibility of obtaining a higher production for the reasons of their faster growth, lower susceptibility to diseases and the potential of farming under high stocking densities in farming them in ponds. It is also possible to farm the said type of shrimps under three cycles per year. However, in view of carrying out the farming of shrimps under high density and easing the removal of higher amount of organic waste accumulated in the pond on the said reason, it is essential to lay High Density Poly Ethylene (HDPE) to cover the traditional shrimp farming ponds with mud bottom being used for farming and modernize them. And also, in parallel with this, it is essential to increase the capacity of the shrimp processing plants to store the increasing production of shrimps for export purposes and produce value‑added products and to modernize them by using the state of the art technology. Accordingly, the proposal made by the Minister of Fisheries to implement a concessionary loan scheme through the State Banks to secure the required capital for encouraging the shrimp farmers to engage in Vannamei shrimp farming, was approved by the Cabinet.