The Bank of Maldives (BML) has officially announced the opening of applications for the BML Startup Grant 2024, aimed at supporting emerging entrepreneurs in launching or expanding their businesses in the Maldives.

This year, the grant will provide funding of MVR 500,000 to two selected businesses, alongside comprehensive financial advice to help winners effectively implement their business plans. Both individuals and newly registered businesses are encouraged to apply.

Aishath Noordeen, BML’s Acting CEO, emphasized the importance of empowering local entrepreneurs as a vital component of sustainable economic development. "This grant underlines our dedication to fostering an entrepreneurial spirit and cultivating local talent," she said. "We are proud to continue the BML Startup Grant for a third year, empowering entrepreneurs to transform their aspirations into thriving enterprises that benefit our economy."

Applications must be submitted via email to [email protected] by 11:59 PM on October 17, 2024.