The government will offer low cost loans to encourage investors to purchase deep sea fishing vessels in efforts aimed at boosting fish production.
Fisheries Principal Secretary Prof. Micheni Ntiba says Kenyans own 17 of the total 72 deep sea fishing vessels operating in Kenyan waters hence the latest financing efforts.
The government has further increased investments in the aquaculture by 10 billion shillings, a fortnight after a partnership with the international fund for agricultural development, raised 14 billion shillings in a bid to increase fish production in the country.
Of the latest 10 billion shillings, a loan from the World Bank, will among others finance conservation measures in five coastal counties.
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To this end the government has secured a 10 billion shillings loan from the World Bank part of which would be for onward lending at low rates to fishermen in five coastal counties for procurement of deep sea fishing gear.
Additionally the cash will finance training of 500 youth across the coast region on deep sea fishing.
Part of the loan will be channeled through coastal counties to finance ocean conservation activities.
County governments in the 15 selected high fish potential areas are being encouraged to allocate at least 14 million shillings of their budget for increasing fish production in each sub location.