Economic Minister Mohamed Saeed has announced plans to launch the second round of the Getset Youth Entrepreneurship Programme early next year.
Saeed said the new round would be launched with the completion of the issuance of loans approved under the first round.
The first round saw the issuance of loans between MVR300,000 and MVR800,000.
Saeed said the lending ceiling would be higher in the second round.
Highlighting the success of the first round of the programme, Saeed said the Ministry would continue to provide assistance to the recipients of the loans.
The loans issued under the programme have a 9-year repayment period with one-year grace period.
34 loans were issued to some 72 individuals in the first round of the programme.