Defense Minister Adam Shareef Umar on Monday announced plans to introduce a Disaster Relief Loan Scheme, to provide financial assistance and compensate for damage caused to homes during times of disasters.
He made the announcement speaking at a function held to launch the website, social media accounts and mobile application of the National Disaster Management Centre.
The Defense Minister said the new loan scheme would allow people affected by disasters to seek financial assistance in the form of loans from Bank of Maldives PLC. He also noted that the Government already provided compensation and financial assistance to those affected by disasters and incidents.
The new low-interest loan scheme will have a grace period of one-year, and a repayment period of 15-years, he added. The NDMC app is called “Disaster Watch” and is available for download on the Apple App Store and Google Play Store.