Economic Minister Fayyaz Ismail has announced that freelancers will be eligible for SME’s loan given by the SME Development Finance Corporation (SDFC).
Economic Minister has stated this after professionals in the artistic field such as musicians and photographers expressed their concerns as they are faced with lack of income due to the restrictions in tourist arrivals to the Maldives.
The government has also revealed that SDFC will be providing loans through BML starting from next week, and this was a part of the government stimulus package for the situation with the spread of COVID-19 pandemic in the Maldives.
SDFC will be providing loans with an interest rate of 6% and with a grace period of 6 months. The loan repayment period will be 3 years.