NOAA Fisheries is accepting loan applications totaling up to $197 million for fisheries-related projects for the six Community Development Quota groups in western Alaska. Up to $32.8 million will be available for each of the CDQ groups to borrow for eligible loan projects. This includes funds for fish quota, aquaculture products, and the refinancing of already purchased vessels. The loan cannot be used for overfished fisheries or the purchase of a new vessel.
The six Community Development Quota groups are:
Western Alaska Community Development Quota Program Eligible Communities and CDQ Groups. Credit: NOAA Fisheries
- Aleutian Pribilof Island Community Development Association
- Bristol Bay Economic Development Corporation
- Central Bering Sea Fishermen’s Association
- Coastal Villages Region Fund
- Norton Sound Economic Development Corporation
- Yukon Delta Fisheries Development Association
Congress originally established the CDQ Program to:
- Provide eligible western Alaska villages with the opportunity to participate and invest in fisheries in the Bering Sea and the Aleutian Islands Management Area
- Support economic development in western Alaska
- Alleviate poverty and provide economic and social benefits for the residents of western Alaska
- Achieve sustainable and diversified local economies in western Alaska
You can read more about the Community Development Quota Program and contact Earl Bennett at earl.bennett@noaa.gov for additional information about this opportunity.
Original source can be found here.
