Ministry of Economic Development has stated the grant aid provided by the European Union (EU) has been issued to 87 Maldives tourism businesses so far.
The EU has provided USD2.3 million as grant aid for micro, small, and medium enterprises (MSMEs) in the tourism sector to recover from the COVID-19 pandemic, with the objective of enabling a more resilient and diversified economy in the Maldives. The grant scheme commenced on December 15 last year and the application window is open for a six-month period.
The economic ministry stated USD223,000 of the grant aid has been provided to 87 businesses so far and that a total of 561 guesthouses and 126 safaris are expected to benefit. The eligibility criteria to apply for the grant include the applicant being a local individual, sole proprietorship, partnership, or company registered and conducting business in the Maldives in the guesthouse or liveaboard sector.
Guesthouses and liveaboards also need to be registered with a valid operating license with 40 tourism beds or less. The businesses must submit a completed application with all required supporting documents and information before the set deadline of May 31.