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Financial assistance to private businesses under Covid Income Support Project

Anaan Bushry
03 October 2022, MVT 18:40
Covid-19 income support project opens for private businesses: Income support will also be provided for local embroidery work such as kasabu viyun -- Fayaaz Moosa
Anaan Bushry
03 October 2022, MVT 18:40

Economic Ministry and The World Bank have opened the opportunity via their ''Covid-19 emergency income support project'' to provide financial assistance to private businesses affected by the pandemic.

In an announcement, the Ministry said the aim of the program under the Income Support Project is to provide financial and training assistance to those whose work has been halted or their income adversely affected due to Covid.

Those eligible for the aid can receive up to MVR 60,000 under the areas specified in the declaration. According to the Ministry, the amount of money will be given as grants. As a condition of receiving the aid, it will be mandatory to complete the training program provided by the Economic Ministry.

Areas where application is accepted

- Food production

- Embroidery and Handiwork

- Beauty and makeup

- Photography and videography

- Textile work

- Information communication technology

- Creative Arts and Music.

- Sports and fitness.

According to the Economic Ministry, 500 opportunities will be opened in the first phase of the program, out of which 40 percent will be reserved for women.

Applications for financial assistance must be submitted online through the ministry's job center portal. The deadline for submitting applications is October 31.

Under the income support project, the government has previously announced that it will conduct a training program based on accounting, information communication technology and diving, as well as an apprenticeship program. Some of these programs have already been opened for application.