Bank of Maldives (BML) on Wednesday, 09 December, announces that it has started accepting applications for the EIB Covid Relief Loan.
Earlier, the relief loan program saw inception to provide support for small and medium enterprises (SMEs) through funding from European Investment Bank.
Moreover, Maldives government is facilitating the EIB Covid Relief Loan program with the support of Bank of Maldives.
Businesses can finance projects up to MVR15.42 million at a lower interest rate of 6% with a 4-7 years in repayment period.
Furthermore, applicants can send required documents via email to [email protected]
Earlier, EIB signed a 20-million Euro agreement with Maldives government and Bank of Maldives to provide relief for local businesses.
Due to the Covid-19 global pandemic several small to medium tier businesses in the island nation faced challenges.