Gov’t Expands Loan Programme to Boost Agriculture Sector
Minister of Agriculture and Animal Welfare Dr Aishath Rameela has announced an expansion of the “Dhanduveri Nafaa Loan” Programme, increasing the collateral-free loan limit to USD 32,000.
The announcement was made during her special address in recognition of National Farmers’ Day on October 15 and World Food Day on October 16.
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Minister Rameela emphasised the government’s dedication to transforming agriculture into a key economic sector, supporting both newcomers and existing farmers. She reported that a total of one million USD has already been disbursed under the Dhanduveri Nafaa Loan Programme, which the government aims to further strengthen.
In collaboration with the SME Development Finance Corporation (SDFC), the Ministry of Agriculture is raising the loan cap from the current USD 6,500 to USD 32,000, ensuring these loans remain compliant with Islamic financing principles. Minister Rameela also highlighted a partnership with the International Fund for Agricultural Development (IFAD) to expand the nation’s agribusiness programme. Plans include establishing model greenhouses on 12 islands, with five additional locations to follow.
The minister introduced a new initiative to support greenhouse investment, with free aid distribution beginning next week for eligible applicants. Sixty-eight farmers have applied, and after evaluations, the aid will be distributed shortly. She also announced the Uthuru Thila Falhu (UTF) Agriculture Zone Project, intended to modernise the Maldives’ agricultural landscape, as well as a new vertical farming project focused on advancing agricultural innovation.
Looking ahead, Minister Rameela outlined plans to establish the National Plant Protection Organisation next year, with operational roll-out expected soon thereafter. She confirmed the completion of a national agricultural laboratory by year-end.
The Maldives National University (MNU) has launched a mobile version of the “Dhanduveriya” app, developed to provide farmers with crucial resources and support. Introduced by MNU Chancellor Dr. Mahamood Shougee, the app now offers mobile access to technical guidance, crop planning, and an online forum where farmers can discuss industry challenges.
Additionally, the app includes a marketplace to connect farmers with buyers and real-time updates on agricultural prices. Originally launched as a web app in 2023, the mobile version is part of the Maldives Agri Business Program, funded by IFAD, with full functionality expected by January 2025.
The Dhanduveriya app will make technical farming information available to all users, while access to the forum and marketplace requires eFaas portal login.
