VilunVeshi program offers microgrants of up to MVR 100,000; applications open on July 23

SME Digital states that the VilunVeshi - a grant program aimed at supporting climate resilience, food security and innovation – will offer financing of up to MVR 100,000.

The program, inaugurated by the Environment Ministry on June 23, is supported by the Asian Development Bank (ADB), and facilitated through SME Digital.

On Thursday, SME Digital stated that the first phase of the program will offer individuals and sole proprietors with microgrants of up to MVR 100,000 to help them bring innovative and impactful projects to life.

The focus areas for the grant program includes:

• Climate-resilient agriculture and local food production
• Digital and climate innovation
• Value-chain development, processing, and market innovation

Applications are set to open on July 23.

SME Digital’s CEO Badhurudheen Hassan described the VilunVeshi grant program as an important opportunity to support innovative initiatives that contribute to climate resilience, food security, and sustainable economic development.

“Through this program, we aim to empower individuals and communities to implement practical solutions that create income-generating opportunities, strengthen local livelihoods, and deliver long-term benefits,” he said.

“We are delighted to support beneficiaries in transforming their ideas into impactful and sustainable outcomes."

VilunVeshi is part of the larger Enhancing Climate Resilience and Food Security Project (ECRFS), a multi-phase initiative aimed at building climate resilience while creating sustainable economic opportunities for communities nationwide.

The program is structured into three grant phases:

• Individual micro grants;
• Community and SME grants and;
• Institutional demonstration projects.

According to SME Digital, the current phase of the project will focus on individual micro grants.

The bank previously said that a total of 150 applications will be accepted for evaluation, with grants to be awarded for selected 50 grantees.

SME Digital states that applications will remain open until the application limit of 150 submissions is reached or to a period of one month from launching date.