COVID-19: loan facility to be arranged for fish exporters

The government has decided on Sunday, to give some leeway as well as arrange a loan facility to the fisheries sector to ease the challenges faced by the sector owing to COVID-19.

The government has provided a temporary solution to the challenges faced by the fish exporters of the Maldives due to the outbreak of coronavirus across the globe.

According to Fisheries Ministry, following a discussion held among Fisheries Minister Zaha Waheed and Economic Minister Fayyaz Ismail, leeway is provided to the existing loans given to build fishing vessels and buy engines for the vessels in addition to arranging an MVR 100 million loan facility to the fish exporters.

The government has said that “Economic Aid” package is to be provided for minimizing the economic loss to the country owing to COVID-19.

Economic Minister Fayyaz Ismail had stated on a previous occasion, to minimize the loss to the businesses due to the coronavirus, the government had been discussing with Finance Ministry to introduce a package. Under the package, an easier finance facility will be provided to small and medium-sized enterprises.

Bank of Maldives has provided a loan facility of USD 2 million as working capital for guest houses and resorts.

The infected figure has reached 13 in the Maldives. However, all of them are Foreigners. They are; two people from Anantara Dhigu Resort, five from Kuredhdhu Resort, two from Sandy Bathala Maldives Resort, two from Island Resort and two from Island Safari.

Following the spread to COVID-19 in the Maldives, the government has declared a national public health emergency for 30 days in the Maldives.