BML reopens applications for economic stimulus loan

Bank of Maldives (BML) headquarters in Male' City. (File Photo)

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.