Govt allocates MVR 450 million in budget for SME bank

The government allocated MVR 450 million in the 2020 State Budget for the SME Development Finance Corporation (SDFC), which was established for the betterment of Small and Medium Enterprises (SME).

Speaking at the parliamentary sitting held to submit the proposed state budget for the coming year, Minister of Finance Ibrahim Ameer underscored the importance of SMEs, highlighting it was the sector that contributed most to the country's economy.