Finance Minister Ibrahim Ameer says government’s stimulus package designed to provide financial relief to those impacted by the Covid-19 crisis would be implemented next week.
Speaking the media, Minister Ameer said the Maldives and the rest of the world were unprepared for the current economic downfall brought about by the Covid-19 global pandemic.
Minister said the most important objective of the stimulus package is to protect jobs of Maldivians working in the tourism sector and private businesses.
He said the financial loans available through the government’s stimulus plan are more accessible than regular loans.
Further clarifying the stimulus package, Minister Ameer said Bank of Maldives BML would issue loans for resorts that meet the criteria set by the Ministry as well business that earned more than 10 million rufiyaa.
He added SDFC will be issuing loans to business that earn less than 10 million rufiyaa as well as to individuals.
The government’s stimulus package is set to offer various financial facilities to revive the economy with importance given to guaranting job security and longevity for Maldivians working in the tourism sector and businesses.
Earlier, Minister Ameer announced that the government would be issuing a 3-month allowance to those who lose their jobs in the Covid-19 crisis.
