Applications for Soft Loan Scheme for Content Creators to Open in Two Weeks, Says President
Photo digital camera on a tripod | Photo: Envato
President Dr Mohamed Muizzu has announced that applications for the Government’s special soft loan scheme for local content creators will open within the next two weeks.
The initiative is a key commitment outlined in the Administration’s manifesto.
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In a post on his official X account, the President said the technical preparations for the scheme are now in their final stages. This initiative is a commitment President Miuzzu outlined in his administration.
“The loan scheme aims to enhance the role of the creative economy and create opportunities for young people in the Maldives to engage in the sector,” President Muizzu said on X.
މެނިފެސްޓޯ ގައިވާ ވަޢުދު ތަކުގެ ތެރެއިން ރާއްޖޭގެ ކޮންޓެންޓް ކްރިއޭޓަރުންނަށް ޚާއްސަކޮށްގެން ލުއިލޯނު ދިނުމުގެ ސްކީމެއް ހުޅުވާލުމަށް ކުރަންޖެހޭ ފަންނީ މަސައްކަތްތައް ނިމުމަކާ ހަމަޔަށް ވަނީ ގޮސްފައި. މި ލޯން ސްކީމް ގެ މަޤްޞަދަކީ ކްރިއޭޓިވް އިކޮނޮމީގެ ދައުރު އިތުރަށް ފުޅާކޮށް،…— Dr Mohamed Muizzu (@MMuizzu) September 14, 2025
He emphasised that the initiative aims to strengthen the creative economy and provide new opportunities for Maldivian youth to contribute to the growing sector.
The scheme is designed to support a wide range of fields, including media content, audio-visual production, the entertainment industry, and content developed for sales and marketing purposes.
The President added that he has instructed the relevant authorities to ensure the application process opens within the next two weeks and remains accessible to all content creators working across these sectors.
A similar venture was launched last year, when the Business Centre Corporation (BCC) opened applications for the Creative Economy Fund, a government initiative designed to provide financial assistance to artists across the Maldives. Although the programme was devised to provide aid ranging from MVR 50,000 to MVR 300,000, BCC informed MV+ that no funds have been disbursed to date.
According to BCC, while numerous applications were received, only around 30 applicants submitted the required documentation correctly. Work on the fund is currently on hold as the corporation addresses challenges, including establishing a sustainable mechanism to ensure the programme continues beyond the initial disbursement and securing funding. BCC said it plans to resume the programme next year once these issues are resolved.
The corporation also clarified that the soft loan scheme recently introduced by the President’s Office is distinct from the Creative Economy Fund, as the objectives differ. Under the fund, the current Project Based Financing Scheme requires successful applicants to follow a repayment plan without interest, while providing detailed accounts of how the money would be used, along with the provision of incubation services by BCC to the beneficiaries to ensure successful delivery of the respective projects.
