Bank of Maldives (BML) has launched the Small Grant scheme to support Non-Governmental Organisation (NGOs) on projects that promote sustainability, climate change mitigation and adaptation.
BML stated the Small Grant scheme is part of a series of community initiatives undertaken by the bank in the build-up to its 40th anniversary this November. BML revealed 8 NGOs will be granted USD16,000 each to undertake projects classified into one of the focal areas allocated by the bank for the scheme. As such, focal areas for BML Small Grant include conservation and restoration of the environment or endangered species, restoration of degraded or unused land, waste management and pollution prevention, promoting affordable, clean energy and low carbon innovations, as well as climate change mitigation and adoption, and environment education and advocacy.
BML stated the fund is applicable only for new projects of the maximum value of USD16,000 that are within the focal areas. Applicants must be a community-based NGO legally registered in the Maldives before December 31, 2021. Individuals, government bodies, business, commercial entities and other institutions that are state funded are not eligible.
Applications for BML Small Grant is open until May 15. Applications can be sent in to the designated email of the BML Small Grant scheme before 2359hrs on May 15.