The Capital Market Development Authority (CMDA) has introduced a Joint Financing Facility (JFF) in the Maldives, specifically designed to support Micro, Small, and Medium Enterprises (MSMEs) in implementing projects aligned with the 'Blue Economy' concept.
In collaboration with the United Nations Development Programme (UNDP) and with the support of the UK government, a financing framework has now been established through this facility to address long-standing challenges in accessing capital for value-added and sustainability-oriented businesses in the fisheries, tourism, and marine trade and services sectors.
According to CMDA, the facility will enable the provision of funds at concessional rates by covering a predetermined portion of the financing costs incurred by banks, principal advisors, and other financial service providers serving such companies.
The launch of the JFF marks a significant step toward building a robust financial architecture and enhancing the role of the capital market in the Maldives, it said.
By leveraging both banking and capital market channels, it represents a crucial move towards mobilising sustainable investments and advancing the transition to a blue and inclusive economy, CMDA added.