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Supporting local fisheries The FMO is obliged under its terms of reference to plough back surplus for the improvement of local fishing industry. To support fisheries production, the FMO set up a Fish Marketing Organization Loan Fund in 1946 to provide credit assistance to fishermen for productive purposes. As at 31 March 2006, the Fund had a capital of $75.1 million. Since the Fish Marketing Organization Loan Fund was established in 1946, loans amounting to $341 million have been issued. A Marine Fish Scholarship Fund has also been set up to promote education and training in fisheries. The Fund is administered by its Trustee (the Director of Marketing) on the advice of a statutory Marine Fish Scholarship Fund Advisory Committee. The Fund currently has a capital of $3.5 million and offers scholarship, grants and loans for the education and training of persons employed in the marine fisheries and fish marketing industries in Hong Kong and their family members, and persons who wish to enter the marine fisheries and fish marketing industries in Hong Kong. The FMO also provide fishermen liaison services through its Liaison Officers stationed at major fishing ports. They perform an important role as the front-line personal contact with fishermen and assist fishermen in matters relating to their fishing operations, marketing, running of co-operative societies, and applications for loans and mainland fishermen deckhands.
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