The European Union (EU) has provided EUR 2 million as a grant aid for tourism sector MSMEs to recover from COVID-19 crisis, with the objective of enabling a more resilient and a diversified economy in the Maldives. The “EU Support for a Resilient Recovery of SME Tourism Industry in the Maldives” project is dedicated towards providing grant aids to local tourism businesses specifically focusing on local guesthouses and safari vessels. A total of MVR 14.2 million has been disbursed to 379 eligible establishments to date.
The project has dedicated EUR 1,400,000 for a direct transfer component while EUR 600,000 will be allocated towards technical assistance which will be directed to training programs for beneficiaries aimed at high impact areas such as improving business operations, financial management, sustainable waste management and creating access to international markets.
Furthermore, the technical assistance component will also support set-up of an OTA system which will act as a strategically important tool that is expected to play a crucial role in retaining value created by the industry and promoting growth of tourism related MSMEs.
The application deadline for the EU grants has been extended till February 23, 2023, 1400 hrs. local time. To apply and learn more about this project, visit the website: https://eusupport.mfmc.mv/.
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