Bank of Maldives (BML) in partnership with with the Ministry of Tourism and the Maldives Association of Tourism Industry (MATI) has announced a short-term financing solution to support the tourism sector.
According to a press release by BML, the financing solution allows operational resorts and guesthouses finance up to US$2 million to manage their working capital requirements, with a repayment period of 3 years.
“Although any impact will depend on the extent and duration of the outbreak, our tourism industry and local businesses are already facing an unprecedented set of challenges.” CEO and Managing Director of Bank of Maldives Tim Sawyer stated.
“As the national bank, it is our responsibility to support these businesses through this period. Together with our partners, the short-term financing solution announced today will help manage working capital requirements, to cushion the impact.” He further revealed.
BML stated that in order to apply for the facility, customers can get in touch with their Relationship Manager, visit the nearest branch or call the Bank’s Contact Centre at 3330200 for further details.
Comments