National Bank, Bank of Maldives (BML) will be issuing COVID-19 Economic Stimulus Loans to small and medium enterprises.
The loan scheme is included under the stimulus package announced by the Ministry of Finance on 27th May 2021 to help sustain small and medium businesses with the continued impact of COVID-19 on the local economy.
The COVID-19 Economic Stimulus Loan will be available to businesses financially affected by the pandemic to finance up to MVR 10 million at a lower interest rate of 6%. This is an unsecured facility with a repayment period of 4 years.
Bank of Maldives will start accepting applications from 20th June 2021. Further details on the loan and the application process will be published on the Bank’s website.