Economic Ministry has said that money to those selected under Getset loan scheme – a government loan scheme targeting young entrepreneurs – is being issued during January.
Mahil Ali Jaleel – who is in charge of managing the loan scheme – said on Sunday that all necessary arrangements were being made and that they had started issuing the money this month.
“We are working on ensuring this gets completed as soon as possible. We are currently in the final process,” he said.
72 youths were selected as part of the loan scheme on August, 2015.
Economic Minister Mohamed Saeed said that the MVR 25 million to the 72 individuals would push doors to young and upcoming businesses wide and open.
“Handing MVR 200 million minimum interest mortgage-free loan to Maldivian youths within a five-year period means the birth of 400 to 500 new businesses in Maldivian economy by the end of the five years,” said Minister Saeed.