The Government will provide up to $250 million in loans to the fishing industry in addition to existing loans to fishermen and fish farmers, the Health, Welfare & Food Bureau says.

The loans are to help them through the annual fishing moratorium and to pursue alternative modes of operation, including the development of aquaculture businesses.

The Government has consulted Legislative Councillor Wong Yung-kan, who represents the agriculture and fisheries sector, and fishing industry groups over the past few months and the decision was made after taking into consideration the difficult operating environment facing fishermen in recent years and the need to conserve fisheries resources.

Among the $250 million, $190 million will be used to provide loans to assist fishermen and fish farmers to pursue sustainable fisheries or related operations, such as offshore fishing and developing aquaculture businesses.

Another $60 million will be used to offer low-interest loans to fishermen affected by the moratorium in the South China Sea.

The Government will consult the Legislative Council Panel on Food Safety and Environmental Hygiene later this month and seek funding endorsement from the Finance Committee in June.

Secretary for Health, Welfare & Food Dr York Chow will meet fishing industry groups next Tuesday (May 16) to brief them on the proposed loan scheme.

The Government appealed to the industry not to take any drastic action to air their grievances.