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 15th, 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 . The applications that are submitted, will be processed within 14 working days. The user manual is also submitted in the portal.