Special Program Launched to Provide Financial Assistance to Farmers

The Ministry of Agriculture in the Maldives has rolled out a new grant program aimed at providing financial assistance to farmers across several islands. This initiative, developed in collaboration with the Ministry of Finance, the Small and Medium Enterprises Development Corporation (SDFC), and the International Fund for Agricultural Development (IFAD), seeks to bolster agricultural activities in the region.

Under the program, a Memorandum of Understanding (MoU) was signed earlier this year, allocating a substantial grant of Rs 15,188,700 for implementation. Specifically targeting farmers, non-governmental organisations (NGOs), small and medium enterprises, and cooperative societies in 26 islands spanning Haa Alifu, Haa Dhaalu, and Shaviyani atoll, the initiative falls under the Maldives Agri-Business Program (MAP) provinces.

This grant is being divided into various phases, with the initial phase focusing solely on production-related activities. Eligible projects for this phase include the installation of greenhouses, hydroponic systems, or other mediums to enhance agricultural productivity.

To facilitate information dissemination and application processes, informational sessions have already commenced in project villages. Starting from June 25, 2024, interested parties can submit their applications through the SDFC portal. Recognizing the importance of preparation, the ministry has allotted a month between the announcement and application submission, allowing farmers ample time to gather the necessary documentation.

Moreover, the Maldives Agri-Business Program represents a joint venture between the Ministry of Agriculture and IFAD, aiming to promote sustainable agricultural practices and improve farmers' livelihoods. As part of the program's outreach efforts, island farm forums will be established in covered villages, providing agricultural training, financial assistance, and crucial information to local farmers. This multifaceted approach underscores the government's commitment to fostering agricultural development and ensuring food security in the Maldives.