1. to provide loans to capture fishermen to help them switch to sustainable fisheries or related operations including offshore/deep sea fishing, recreactional fishing, fish farming, fish transportation and fisheries product processing, which are conducive to reducing fishing efforts and conserving fisheries resources in local waters; and

2. to provide loans to fish farmers to help them develop or improve their fish farming business with a view to improving the quality and food safety standards of aquaculture products as well as enhancing their competitiveness in the market.

1. applicants for loans to capture fishermen must be Hong Kong residents and local fishing vessel owners on or before 16 June 2006; or locally registered companies wholly owned by local fishermen who are also local residents, the majority of whom are local fishing vessel owners fulfilling the afore-mentioned qualifications; and any eligible fisherman, either as an individual applicant or a share holder of a fisheries company, may borrow from this loan fund once only; and

2. applicants for loans to fish farmers must be Hong Kong residents, and marine fish culture farmers holding valid Marine Fish Culture Licences issued by the Agriculture, Fisheries and Conservation Department; or local fish farmers engaging in the freshwater, pond or other inland culture operations; or locally registered companies wholly owned by any of the afore-mentioned fish farmers who are also local residents.

Subject to the applicant -

(i) submitting an application which is supported by the Director of Agriculture, Fisheries and Conservation (DAFC);

(ii) being able to contribute from his own resources an amount acceptable to the DAFC, such amount being not less than 10% of the total cost of the project for which the loan is required; and

(iii) agreeing to the terms under which the loan is issued.