Sunday 2nd Oct 2022
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Covid Relief Loan

Loans Given to 161 Restaurants: Fayyaz

Minister of Economic Development Fayyaz Ismail stated that 161 cafés and restaurants received Covid Relief Loans.
His statement was in regards to the Restaurant Association of Maldives' claims at a press conference that only four restaurants received the loans.
During a press conference at the President's Office on Tuesday, Minister Fayyaz declared that the Bank of Maldives (BML) has distributed MVR 942 million to major businesses, and SME Development Finance Corporation (SDFC) has given out MVR 363 million as Covid Relief Loans to 2,200 businesses.
He reiterated that 161 cafés and restaurants were given a total of MVR 49 million as Covid Relief Loans. "BML provided 5 cafés and restaurants with loans totaling MVR 16 million. SDFC also provided 156 cafés and restaurants with loans totaling MVR 33 million", said Fayyaz.
The minister wished to rectify the inaccurate information shared in some news reports, and confirmed that 90 of the 156 cafés and restaurants that received loans from SDFC were businesses in the Greater Male' Area.
The government has decided to allow cafés and restaurants to resume dine-in services from July 1, between 4 am and 8 pm.