The Ministry of Fisheries, Agriculture and Ocean Resources, in partnership with the International Fund for Agricultural Development (IFAD), has opened the second round of the Agribusiness Matching Grant Program.
Managed together with SME Digital, the scheme targets farmers, NGOs, small‑ and medium‑size enterprises and cooperative societies in the islands of Haa Alifu, Haa Dhaalu and Shaviyani – the core areas of the Maldives Agribusiness Program.
Under the financing, applicants can request up to USD 129,702 to support a range of agricultural activities, but the grant itself is capped at USD 9,728 per beneficiary. The programme will cover 30 percent–50 percent of the total project cost, with the remaining funds required to be sourced either from the applicant’s own resources or through farm‑profit financing. The second round is limited to Climate‑Smart Production, encompassing the installation of greenhouses, hydroponic systems or any other climate‑resilient medium.
The first round of the grant was completed last year, providing assistance to 15 farmers across the target atolls. Building on that experience, the new round will include a series of information‑sharing sessions in the project islands to guide prospective applicants through the application process and outline eligible activities.
CEO of SME Digital, Badruddeen Hassan said the Agribusiness Matching Grant Program is a valuable opportunity for farmers and agribusinesses, adding that the program reduces the financial burden on farmers and empowers them to invest in productivity, new innovations and sustainable growth.
Such initiatives will help establish an environmentally friendly, sustainable and robust agricultural system in the Maldives, he added.
The Maldives Agribusiness Program is a joint venture between IFAD and the Government of Maldives. To date, Island Farmer Forum Groups have been established in 26 islands, delivering training, information and financial assistance to farmers. As one of the project’s flagship activities, technical training on cultivating cucumber, melon, chili and watermelon in cocopeat is currently being rolled out in 12 islands.
The goal, according to project coordinators, is to spark interest and familiarity among growers to adopt better, more advanced technologies beyond traditional farming practices, thereby promoting climate‑smart and sustainable agriculture. Through these efforts, the program hopes to broaden the agricultural sector and attract more young people to modern farming.