BML reopens applications for economic stimulus loan

Bank of Maldives (BML) has reopened applications for the economic stimulus loan.

The economic stimulus loan was originally launched in November 2020 through a partnership between BML and Finance Ministry to support businesses financially affected by the Covid-19 pandemic.

BML reopened applications for the loan Thursday.

The bank has asked eligible businesses to send the completed application form along with the required supporting documents to [email protected].

The economic stimulus loan facility offers financing up to MVR 7 million with a lower interest rate of 6 percent and a repayment period of four years.

Businesses previously granted EIB Covid relief loan or economic stimulus loan aren’t eligible, states the bank.

Applications are open until November 30.