May 16, 2006

HK fishing industry to get loans to develop aquaculture

The Hong Kong government is extending loans worth HKD 250 million (US$32.05 million) to its fishing industry, HK Health, Welfare & Food Bureau announced Saturday (May 13).

Of that amount, HKD 190 million (US$24.36 million) would be used to pursue sustainable fisheries or related operations, such as offshore fishing and developing aquaculture businesses.

According to a press release, the loans are to help fishermen through the annual fishing moratorium and encourage them into alternative activities such as aquaculture.