REPUBLIC OF MAURITIUS

MINISTRY OF OCEAN ECONOMY, MARINE RESOURCES, FISHERIES AND SHIPPING

Submission of Application for Financial assistance for the

Purchase of fishing boat under the Canotte Scheme

Reference No: F/15421/5/V2

1.Introduction

1.1The Ministry of Ocean Economy, Marine Resources, Fisheries and Shipping is inviting applications from registered fishermen Cooperative Societies who wish to benefit from financial assistance for the purchase of fishing boat under the “Canotte Scheme”.

2.Background

2.1Since 2014, the Ministry of Ocean Economy, Marine Resources, Fisheries and Shipping has been entrusted with the responsibility for implementing a special scheme to provide financial support to fishermen Cooperative Societies to enable them to purchase better equipped boats “Canotte” as a tool to enhance their livelihood and encourage them to fish off lagoon.

Under the scheme, a registered fisherman Cooperative Society is eligible for a grant representing 50% of the cost of a “Canotte” and engine up to a maximum amount of Rs200,000 for a “Canotte”.

3.Type of vessel

The “Canotte” should be a new or second hand fibre glass boat of above 8m and less than 12m in length equipped with either an inboard or outboard engine over 25HP.

The estimated cost for a “Canotte” with outboard or inboard engine and safety equipment is between Rs300,000 to Rs800,000

3.1Details of the scheme

(i)Registered Fishermen Cooperative Society will be eligible for a grant of 50% on the purchase of “Canotte” and outboard/inboard engine up to an amount of Rs200,000 per “Canotte” to meet part of the cost of the project.

(ii)Maubank will assist in implementing the scheme. Upon application from the fisherman Cooperative Society, the Bank will provide a loan up to Rs200,000 under the Scheme.

(iii)For loans exceeding Rs200,000, the fishermen Cooperative Society will be supported under Mau Bank’snormal loan scheme.

3.2Terms and conditions

(a) / Purpose of loan / - / Purchase of new or second hand fibre glass boat of above 8m and less than 12m in length equipped with either an inboard or out board engine of 25HP or more, safety equipment, life jacket for each person on boat, a set of 3 hand flares and radar reflector.
(b) / Amount of Loan / -
- / Up to Rs200,000 (under the AFS Scheme)
Loan above Rs200,000 under Mau Bank’s normal scheme
(c) / Interest Rate / - / 3 % per annum
(d) / Repayment Period / - / 7 years (together with a moratorium period of one year)
(e) / Security / - / (i) / Lien on fishing vessel;
(ii) / General Floating Charge on borrower's assets and/or
(iii) / Fixed Charge on an immoveable property on loans exceeding Rs200,000;
(iv) / Insurance cover form SICOM on the “canotte” and engine (inboard/outboard)
(v) / Transfer of closed season and bad weather allowances 50% of which will be used towards loan repayment; and
(vi) / Decreasing Term Assurance covering the amount of loan

3.3Conditions

  • The beneficiary shall not dispose of the boat unless and until loan is fully repaid.
  • The boat must be constructed by a boat builder recognized by the Ministry of Ocean Economy, Marine Resources, Fisheries and Shipping.
  • Disbursement of funds will be effected directly to the boat builder
  • Disbursement will be effected following satisfactory report from a Registered Marine Surveyor.
  • A Registered Marine Surveyor shall certify that the second hand vessel is sound and seaworthy.

Any additional cost of the project shall be borne by the Fishermen Cooperative Society.

3.4Selection of project

A Selection Committee shall be set up comprising representative from the Ministry of Ocean Economy, Marine Resources, Fisheries and Shipping and Mau Bank to assess and approve the applications.

4.Scope

4.1The Ministry of Ocean Economy, Marine Resources, Fisheries and Shipping is inviting applications from Fishermen Cooperatives to invest in the purchase of fishing boat under the Canotte Scheme.

4.2Government will provide a grant of 50% up to a maximum of Rs 200, 000 for the purchase of the fishing boat “canotte” by registered Fishermen Cooperative Society.

4.3Applications should contain a brief describing the FishermanCooperative Society (including the name, registration details, field(s) of activity, experience and financial detail(s).

5.Submission of application

5.1Interested Fishermen/Cooperative Societies who wish to be considered for the financial assistance scheme are requested to submit their application in three(3) copies in a sealed envelope clearly marked Application for Financial Assistance for purchase of fishing boat under the Canotte Scheme' and addressed to the Permanent Secretary, Ministry of Ocean Economy, Marine Resources, Fisheries and Shipping,4th Floor, LIC Building, John Kennedy Street, Port, Mauritius and to deposit same in the Bid Box at the Ministry of Ocean Economy, Marine Resources, Fisheries and Shipping on the above address on or before 17 February 2017 up to 13.30 hrs (local time)

5.2Any late submission of application shall be rejected. The Bid Box will be opened at the address given above at 13.45 hrs on the same day in the presence of representatives of interested Fishermen Cooperative Societies who wish to attend. Applications are not transferable.

5.3The Ministry of Ocean Economy, Marine Resources, Fisheries and Shipping reserves the right to accept any proposal and annul the exercise without thereby incurring any liability whatsoever to any interested Fishermen Cooperative Societies.

Permanent Secretary

Ministry of Ocean Economy, Marine Resources,

Fisheries and Shipping

4th Floor, LIC Building

Port Louis

Mauritius

Tel: + (230) 2112470 to 75

Fax: + (230) 2081929

E-mail:

Date: 24 January 2017