Business Health Society & Culture

Maldives allocates 18.8 mln USD to prop up SMEs

MALE, July 20 (Xinhua) — Maldives Ministry of Finance said loans worth 18.8 million U.S. dollars will be distributed to prop up 1,643 COVID-19 affected small and medium enterprises (SMEs), local media reported Monday.

According to statistics released by the Ministry of Finance, 11.2 million U.S. dollars have already been disbursed to 1,303 SMEs by the SME Development Finance Corporation (SDFC), while a further 9.8 million U.S. dollars are to be disbursed to 640 businesses.

Meanwhile, the Finance Ministry also announced that it had disbursed 1 million U.S. dollars to 4,525 individuals through the National Social Protection Agency as income support for individuals affected by the COVID-19 pandemic.

Individuals aged between 18 and 65 who were working in the Maldives on March 1 and who were terminated, suspended, or placed on no-pay leave received 324.7 U.S. dollars per month until June under this relief program.

The Maldives currently has 2,966 confirmed cases of COVID-19, out of which 2,362 have fully recovered and 15 have died, according to data from the Health Protection Agency (HPA).

Full details are available at the link below:

Source URL: Google News

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