Maldives Introduces Blue Economy Financing Facility For Value-Driven SMEs

The United Nations Development Programme (UNDP) and the Capital Market Development Authority (CMDA) have launched the Blue Economy Financing Facility (BEFF) in the Maldives, aimed at supporting small and medium-sized enterprises (SMEs) operating in sectors such as fisheries, tourism, and maritime trade.

The initiative, backed by the UK government, is designed to address key financial challenges faced by businesses committed to value addition and sustainability. 

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Through BEFF, funds will be made available at affordable rates by partially guaranteeing loans via partner banks, financial advisors, and service providers. This approach is expected to reduce the financial burden on SMEs seeking to adopt sustainable business practices.

According to the CMDA, the introduction of BEFF marks a significant milestone in strengthening the capital market’s role in building a resilient financial system in the Maldives. 

The facility is part of a broader strategy to transition towards a “blue and inclusive” economy, with a focus on environmentally sustainable investments and expanding access to both banking and capital market resources.