In a major push to strengthen coastal livelihoods, the National Cooperative Development Corporation has sanctioned a term loan of Rs 600 crore to the Tamil Nadu State Apex Fisheries Co-operative Federation Ltd..
The funding has been extended under the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) along with the Central Sector Scheme providing grant-in-aid support to NCDC.
The initiative aims to promote sustainable fisheries development while enhancing infrastructure and capacity in the cooperative fisheries sector. It is expected to benefit fishermen and coastal communities by improving access to modern facilities, boosting productivity, and increasing income opportunities.
Officials said the move reinforces the role of cooperatives as key drivers of inclusive growth, particularly in coastal regions where livelihoods are closely tied to marine resources. The support is also aligned with the broader national vision of strengthening cooperative institutions and ensuring long-term sustainability in the fisheries sector.