Aquaculture for all

Low-Interest Loans to Be Expanded for Aquaculture

Economics Politics +2 more

TAIWAN - The government will expand its low-interest loans to Pingtung County's NT$3.2 billion aquacultural industry to help it rebuild, in the wake of the 8 August floods, it announced.

Specifically, the Council of Agriculture (COA) will increase its loans for grouper farmers from NT$1 million per hectare to NT$8 million; eel farmers, from NT$1 million per hectare to NT$5 millioin; farmers of fish to be sold as pets, from NT$400,000 per hectare to NT$3 million; farmers of other fish species, from NT$400,000 per hectare to NT$2 million; and oyster farmers, from NT$200,000 per hectare to NT$300,000.

The loan may be repaid in seven years at an interest of one per cent, lowered from the original 1.25 percent, COA said.

Grace period is one year for repaying interest and two years for repaying the principal, reports The China Post.

“Several townships of the southern county, such as Linpien, Chiatung and Fangliao, thrive on aquaculture,” COA said. “Our goal is to help them so that their production will return to the current levels by 2012 and double by 2015.