Through SME Digital, the government has so far disbursed loans totalling USD 24.3 million. This amount has been provided across various economic sectors.
SME Digital is an institution established in 2019 with the specific aim of developing small and medium-sized enterprises (SMEs) in the Maldives. It is one of the largest providers of financing to SMEs in the country.
According to the company, financial assistance has been extended to small businesses across 189 islands throughout all atolls of the Maldives.
SME Digital stated that between 17 November 2023 and 15 April 2026, loans exceeding USD2 24.3 million were issued to 575 businesses.
Breakdown of loans by sector are as follows; Agriculture with USD 388,349, Trade with USD 7.52 million, Construction with USD 323,624, Fisheries with USD 6.61 million, Information Technology with USD 388,349, Manufacturing with USD 2.21 million, Tourism with USD 5.25 million and Transport with USD 1.36 million.
SME Digital noted that easy access to small-scale financing has helped transform new ideas into income-generating businesses. As a result, young people, freelancers, and individuals working from home have all benefited significantly.
Additionally, the company highlighted that special financing schemes have been introduced to strengthen the economic empowerment of women entrepreneurs by improving their financial independence.
SME Digital’s services are designed to cover all sectors, ensuring that businesses can access financial support tailored to their needs. The company also emphasised a special focus on facilitating easier financing options for fishing and tourism-related activities, including the purchase of fishing vessels and cargo boats.