Sunday 14th Jul 2024
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Income support allowance

MVR 421 Million as Income Support to 22,945 Citizens

The Ministry of Finance has declared that MVR 421 million was distributed among those facing financial difficulties due to COVID-19.
Data from the ministry show that MVR 421 million was allocated to 22,945 people as income support allowance. The income support is government assistance for those whose incomes were affected due to the pandemic.
Under the program, those unemployed received MVR 5,000. Citizens earning less than MVR 5,000 were given the remainder to make 5,000.
In addition to income support, 12,280 personnel working in the front line were given an allowance. A total of MVR 160.26 was handed out among the staff.
As part of the government’s loan scheme for small and medium-sized enterprises, MVR 361.3 million was issued to 2,114 businesses by the SME Development Finance Corporation (SDFC).
Loans dispensed to major businesses by the Bank of Maldives (BML) amounted to MVR 585.9 million, plus an additional USD 8 million.