The national bank, Bank of Maldives (BML) has re-opened applications for the Economic Stimulus Loan.
In November 2020, BML partnered with the Finance Ministry to accept and process applications for the Economic Stimulus Loan, facilitated by the Government of Maldives, to support businesses financially affected by the pandemic.
The Economic Stimulus Loan is once again open for applications. Under this facility, financing is available up to MVR 7 million with a lower interest rate of 6% and a repayment period of 4 years. Recipients of previously granted EIB COVID Relief Loan or Economic Stimulus Loan will not be eligible for the new round.
The applications are open until 30th November 2022. BML said eligible businesses can send the completed Application Form along with the required supporting documents via email.