Bank of Maldives (BML) has opened the opportunity to apply for this year's Startup Grant.

Under this program, financial assistance of MVR 500,000 will be provided to each of two selected parties to start a new business or further expand an existing one.

In addition, to provide technical assistance required to grow the business, BML will also provide one year of mentorship support under the guidance of a dedicated Relationship Manager from the bank.

Individuals and newly registered businesses can apply for this grant.

Applications for the Startup Grant can be submitted via email to startupgrant@bml.com.mv before 2:00 PM on the 10th of next month.

Among the eligibility criteria for applying for this grant are being a Maldivian citizen between 18 and 60 years of age, along with having an innovative and sustainably viable business plan.

BML Startup Grant was introduced in 2022 aimed at facilitating funding to start or expand a business in the Maldives.