Maldives Opens Applications for Agricultural Loan Scheme to Boost Local Farming
- The Ministry of Agriculture opened applications for the second round of a MVR 15 million matching grant scheme ('Dhanduveri Manfa') under the Maldives Agribusiness Programme with IFAD.
- This phase focuses exclusively on climate-smart production, funding greenhouses, hydroponics, and alternative growing media for farmers, NGOs, SMEs, and cooperatives in Haa Alif, Haa Dhaalu, and Shaviyani atolls.
- The former 'Nafa' scheme was converted into a Sharia-compliant 'Dhanduveri Nafa' facility financing modern farming, agro-processing, veterinary services, and pet ventures.
The Ministry of Agriculture and Animal Welfare has opened applications for the second round of a MVR 15 million matching grant scheme alongside a newly converted Islamic financing facility to support domestic agricultural production.
The Ministry is executing the matching grant scheme, known as ‘Dhanduveri Manfa’, under the Maldives Agribusiness Programme (MAP) in partnership with the International Fund for Agricultural Development (IFAD). Officials confirmed that SME Digital collaborates with the Ministry to administer both the grant project and the ‘Dhanduveri Nafa’ Islamic financing facility.
The ‘Dhanduveri Manfa’ grant specifically targets farmers, agricultural non-governmental organisations, small and medium-sized enterprises (SMEs), and cooperative societies operating in Haa Alif, Haa Dhaalu, and Shaviyani atolls.
Following a successful initial round, the Ministry has dedicated this second phase exclusively to climate-smart production. Successful applicants must allocate the funding towards installing greenhouses, building hydroponics systems, or establishing cultivation using alternative growing media. Applicants must submit their grant forms online through the SME Digital portal.
In tandem with the grant, the Ministry has converted its former ‘Nafa’ financial assistance scheme into a Sharia-compliant facility named ‘Dhanduveri Nafa’. This facility finances modern farming activities, including urban and protected agriculture, terrace or vertical gardening, poultry and small livestock farming, agro-processing, value addition, agroforestry, and plant nurseries. The scheme also extends funding to veterinary services, pet farms, and pet supply ventures to promote animal welfare.
Ministry officials stated that both schemes aim to broaden investment opportunities for Maldivian farmers, drive national economic growth, expand the agricultural sector, and encourage more young people to pursue modern farming.
