Agriculture Ministry and SDFC Signs MVR 15 Million Grant Programme for Farmers
Photo: Ministry of Agriculture and Animal Welfare
The Ministry of Agriculture and Animal Welfare has signed an agreement with the SME Development and Finance Corporation (SDFC) to initiate a grant scheme exceeding MVR 15 million, aimed at supporting farmers across the Maldives.
Ministry of Agriculture and Animal Welfare, @MoFmv and @SDFC_mv signed an MOU to commence the Agribusiness Matching Grant Program Scheme. This scheme under @MAP, with assistance from @IFAD, aims to promote and facilitate agribusiness development among farmers.
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In an official statement, the Ministry disclosed that the agreement underscores a significant matching grant of MVR 15,188,700, aimed at extending financial aid to farmers through the Maldives Agribusiness Programme (MAP), a collaborative venture involving the International Fund for Agricultural Development (IFAD).
Termed the ‘Agribusiness Matching Grant Programme’, the initiative is tailored to benefit farmers and small and medium enterprises (SMEs) involved in agricultural pursuits across 26 islands within Haa Alifu, Haa Dhaalu, and Shaviyani atolls. These areas are actively engaged in MAP activities, as highlighted in the statement.
The MAP project, currently operational in 26 islands spanning three atolls, focuses on providing financial support, training, and pertinent information to local farmers.
The Ministry elucidated that the principal aim of the project is to encourage farmers to embrace modern agricultural technologies, thereby enhancing farming practices across the region.
