President Ibrahim Mohamed Solih says Bank of Maldives has issued loans to 98 businesses as part of the government relief package to alleviate the financial crunch brought about by the Covid-19 crisis in the country.
Addressing the nation, President Solih said the government had accepted submissions from 157 resorts and businesses requesting assistance under the relief package and that BML has administered loans for 98 of them.
President said the government was also working to issue loans to 396 small businesses and 134 freelance workers through its SDFC loan scheme.
President Solih said several financial institutions like HDFC, MFLC, SDFC, and 8 banks operating in the Maldives have now joined the 6-month loan deferment program for their personal and business customers.
He said that the institutions have deferred 15000 loans and that 83 percent of these loans (13199 loans) were issued by BML.
In his speech President acknowledged that the current ongoing restrictive measures taken by the Government in response to the Covid-19 outbreak, including imposing a full lock-down in the Greater Male’ Region, has caused many difficulties to both people and businesses.
He stated that throughout this period, the Government has placed a high priority on alleviating their burdens.
President Solih reiterated that the government was working to relax the restrictive measures imposed in the Greater Male’ Area in phases.
