Application Deadline for EU Support on Recovery of SME Tourism in Maldives has been Extended

Guesthouses and safari boats in the Maldives are receiving assistance from the European Union (EU) grant project "EU Support for a Resilient Recovery of SME Tourism Industry in the Maldives" to recover from post-pandemic losses. One of the project's primary goals is to demonstrate direct grant support to nearby tourism businesses.
 
Till the end of May 2022, 443 grant applications were received. A payment of MVR 13.1 million has thus far been made to 346 qualified establishments out of the total number of applications received. The deadline for submitting applications for EU grants has been extended to August 31, 2022, at 1400 local time.
 
The European Union has provided EUR 2 million as a grant aid for MSMEs in the tourism sector to recover from the COVID-19 crisis as part of its efforts to build a more robust and diversified economy in the Maldives.
 
The project has set aside EUR 1,400,000 for a direct transfer component, and EUR 600,000 will go toward technical assistance, which will be used to fund training programs for beneficiaries in areas with high impact, like enhancing business operations, financial management, sustainable waste management, and gaining access to global markets.
 
Additionally, the technical assistance component will help set up an OTA system, which will serve as a strategically significant tool and be important in maintaining the industry's value and encouraging the expansion of MSMEs involved in the tourism sector.
 
For more information, please visit https://eusupport.mfmc.mv