The Ministry of Agriculture and Animal Husbandry has announced that more than MVR 20 million has been disbursed to 54 parties under the ‘Dhanduveri Nafaa’ loan scheme. Launched in 2019 in collaboration with the SME Development Finance Corporation (SDFC), the financing has been extended to five companies, 44 male applicants, and five female applicants. These loans are offered at a 6% interest rate under two primary categories: a facility of up to MVR 100,000 with a three-year repayment period, and a facility of up to MVR 2 million with a seven-year repayment period.
Furthermore, as part of the government’s efforts to strengthen national food security, work is underway to establish a coconut propagation center in ADh. Ariyadhoo. To empower individuals in the agricultural sector, training programs have been conducted across 31 islands over the past two years, with 845 participants successfully taking part in these initiatives.
