BML disburses MVR 300 million to over 3,000 young entrepreneurs
Bank of Maldives and SME Digital have disbursed more than MVR 300 million in collateral-free financing to over 3,000 young entrepreneurs under the first phase of their Youth Entrepreneurship Financing scheme.
Bank of Maldives (BML) and SME Digital have disbursed more than MVR 300 million in financing to over 3,000 young entrepreneurs across the Maldives, under the first phase of their jointly introduced "Youth Entrepreneurship Financing" scheme.
The facility was introduced to provide financial support to young Maldivians looking to start or grow small and medium sized businesses. Open to those aged between 18 and 30, the scheme allows financing of up to MVR 150,000 without requiring any collateral.
Commenting on the milestone, BML CEO and Managing Director Mohamed Shareef said he was pleased with the strong response the initiative received from young people.