Maldives government issues a total of MVR784.1 million to a total of 1,762 entities as relief loan.
Moreover, government made disbursements under the Economic Recovery Package; an initiative to provide financial stimulus to businesses and individuals amid Covid-19 pandemic.
Earlier, with the outbreak of Covid-19 global pandemic Maldives economy fell into one of the worst periods of regression in recent history.
A total of 335 entities received loan under economic recovery through Bank of Maldives (BML) as of 4 August.
Furthermore, in monetary terms it amounts to MVR486 million and USD6.5 million in loans.
Additionally, Ministry of Finance in reveal BML will issue loans to a total of 368 parties.
Forty of these applicants await approval as their loans are in processing.
Meanwhile, the bank further confirms a total of 128 applicants did not provide adequate documents for the loan application.
On the other hand, a total of 1,427 parties received funding through SME Development Finance Corporation (SDFC) as of 9 August.
SDFC confirm the disbursement of MVR198 million to the applicants while a total of 1,725 applicants received approval.
Moreover, SDFC confirm the debtors include 415 individual parties and 1,012 SMEs.
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