Under the Green Resort Financing Facility, BML will provide funding for sustainable projects, including shore protection, procurement of energy-efficient equipment, reforestation, and waste management.
Bank of Maldives (BML) has launched Green Resort Financing to support resorts in the Maldives with sustainable development and environmental projects.
Crown & Champa Resorts chairman "Champa" Hussain Afeef and BML CEO and managing director Mohamed Shareef unveiled the initiative at the Maldives Association of Tourism Industry’s (MATI) 35th annual general meeting, held at Kurumba Maldives.
Under the Green Resort Financing Facility, BML will provide funding for sustainable projects, including shore protection, procurement of energy-efficient equipment, reforestation, and waste management.
The facility offers up to MVR 50 million at a low interest rate of 6.5 percent per annum. Resorts can also use funds received via card transactions to make repayments.
Shareef emphasized the bank’s commitment to supporting the tourism sector.
“As the largest and most advanced bank in the country, we are ready to provide the tourism sector with state-of-the-art banking services while ensuring access to financing,” he said.
“The Green Resort Financing Facility is specifically designed to help resorts manage their operating costs while implementing sustainable solutions.”
The meeting was attended by 111 tourism companies, along with MATI chairman Mohamed Umar Manik, Maldives Monetary Authority governor Ahmed Munawwar, commissioner general of taxation Hassan Zareer, BML CEO Ahmed Shareef, and officials from the tourism ministry.
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