EU Provides EUR 2 Million to Support Resilient Recovery of SME Tourism Industry in Maldives

The European Union has provided EUR 2 million as a grant aid for tourism sector MSMEs to recover from  COVID-19 crisis, with the objective of enabling a more resilient and a diversified economy in the Maldives. 

The “EU Support for a Resilient Recovery of SME Tourism Industry in the Maldives” project has dedicated  EUR 1,400,000 for a direct transfer component. The grant scheme is scheduled to commence on Wednesday  15th December 2021 10:00 AM, and the application window is open for a 6-month period. 

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The overall objective of the project is to enable the Maldives to create a more resilient and diversified  economy by enabling tourism sector MSMEs to recover from the COVID-19 crisis that has resulted in significant need of financial assistance to kick start operations to coincide with economic recovery efforts.  Accordingly, the grant amount has been set at MVR 2,453.76 per each bed operated by the eligible SMEs.  

Application forms shall be submitted via our online portal

The user manual has been published on the above stated website. In general, applications will be processed  within 14 working days. 

Eligibility criteria to apply for the grant: 

1. The applicant should be a local individual, sole proprietorship, partnership, or company registered and  doing business in the Maldives in the guesthouse/safari sector. 

2. Guesthouse/safari vessel registered, with a valid operating license as of December 2019, January 2020  or February 2020. 

3. Guesthouse/safari vessel with 40 beds or less. 

4. Must submit a completed application with all required supporting documents/information before the  set deadline 

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