Bank of Maldives (BML) on Wednesday announced that applications for European Investment Bank (EIB) COVID Relief Loan have now been closed.
As per the bank, the allocated fund limit has reached, hence, they will no longer be accepting new applications from March 24 onwards.
The EIB COVID Relief Loan was launched by BML under the COVID relief support for Small to Medium Enterprises (SMEs) through funding from the EIB.
On June 16, 2020, EIB signed a EUR 20 million loan with the Maldivian government, securing the funding.
The loan aid was a part of the Team Europe Action to support the recovery efforts of the economy of Maldives, protect jobs and support SMEs operating in the travel and tourism sectors.