EU Issues Grant Money To Support The Recovery Of SME’s In Tourism Industry Maldives

With the goal of creating a more robust and diversified economy in the Maldives, the European Union has offered EUR 2 million in grant help for tourism sector MSMEs to recover from the COVID-19 crisis.

A direct transfer component of the "EU Support for a Resilient Recovery of SME Tourism Industry in the Maldives" initiative has been allocated EUR 1,400,000. The grant scheme has begun today, December 15^th, 2021 from 10am, in which the application window will be open for six months.

The project's overall goal is to help the Maldives build a more resilient and diverse economy by assisting tourism-related MSMEs in recovering from the COVID-19 crisis, which has resulted in a significant need for financial assistance to get operations up and running in time for economic recovery efforts. As a result, the grant amount for each bed operated by qualifying SMEs has been established at MVR 2,453.76.

Application forms shall be submitted via the Ministry’s online portal https://eusupport.mfmc.mv . The applications that are submitted, will be processed within 14 working days. The user manual is also submitted in the portal.