Bank of Maldives (BML) has launched its Green Resort Financing, a facility designed to support resort investments in sustainable practices.
Chairman of Crown and Champa Resorts, Hussain Afeef joined BML’s CEO and Managing Director Mohamed Shareef to launch the new financing facility during the Maldives Association of Tourism Industry’s (MATI) 35th Annual General Meeting held on Sunday.
According to BML, the Green Resort Financing facility provides resorts with funding to implement sustainable business practices including coastal protection, energy-efficient equipment, reforestation, and waste management.
Speaking at the event, Shareef reinforced BML’s commitment to supporting the tourism industry.
“As the largest and the leading bank in the country, we are here to support our tourism industry with tailored banking and payment solutions,”he said.
“The Green Resort Finance facility is designed to provide resorts with the financial flexibility needed to implement sustainable solutions while ensuring operational efficiency.”
Under the Green Resort Financing facility, BML said customers will receive an Overdraft facility of up to MVR 50 million (USD3.42 million) with competitive interest rate of 6.5 percent and flexible repayments through card collections.