The Ministry of Youth Empowerment, Information and Arts and the Maldives Media and Broadcasting Commission (MMBC) have signed a Memorandum of Understanding (MoU) to provide financial assistance to private media.
A fixed 0.1 percent of the state budget is allocated for media support, to be paid in three instalments under Media Grant Policy. This is the first time the state budget has allocated financial assistance to private media outlets.
The MoU ensures that this financial support is distributed through a fair, transparent and equitable system. Under the agreement, the MMBC is entrusted with managing and administering all state financial assistance to private media. The Ministry of Finance and Planning will release the funds, while the MMBC will disclose details of media outlets receiving assistance.
The assistance aims to help private media become financially sustainable and independent, promote quality and productive journalism, and strengthen journalism as a reliable and responsible employment sector.