The Ministry of Economic Development has launched programmes that aim to provide USD6,500 in grants to 200 small and medium enterprises (SMEs).
The Grants for Women-led Businesses and Grants for Tailoring Businesseses programmes were launched under the Maldives: Enhancing Employability and Resilience of Youth (MEERY) project, which is funded by the World Bank. The programmes were inaugurated by Minister of State for Economic Development Neeza Imad at a special ceremony in Addu City.
The purpose of the two programmes is to promote and provide financial assistance, training and technical assistance to SMEs and provide 200 opportunities for businesses to apply for grants of up to USD6,500. The programmes are aimed at micro businesses registered under the Small and Medium Enterprises Act in Male’ City, Addu City, Fuvahmulah City, and Kulhudhuffushi City. However, unregistered businesses are encouraged to participate in the programme.
The women-led businesses programme aims to provide financial assistance and training to women who want to expand their business or start and develop a new business. The programme for tailoring businesses aim to provide assistance to individuals who own a tailoring business.
Applicants are required to be an individual between the age of 18 and 65 or a business that is 100% Maldivian owned. They should also not be beneficiaries of grants programmes launched under the MEERY project from January 2020. Applications can be submitted via the Job Centre portal.