Applications have opened for the second round of the Dhanduveri Manfaa Agribusiness Matching Grant Programme and the Dhanduveri Nafaa financing scheme, which have been converted to Islamic financing.

The Ministry of Agriculture said the second round of the MVR 15 million matching grant programme will provide financial assistance to farmers under the Maldives Agribusiness Programme (MAP), in collaboration with the International Fund for Agricultural Development (IFAD).

The Dhanduveri Nafaa scheme, which previously provided financial assistance to farmers through the ministry, has also been converted to an Islamic financing facility. Both schemes are being implemented in collaboration with SME Digital.

The Dhanduveri Manfaa grant is open to farmers, NGOs, small and medium-sized enterprises and cooperative societies operating in islands of Haa Alif, Haa Dhaalu and Shaviyani atolls, where MAP activities are being carried out.

The ministry said the first round of the grant programme was successful, while the second round will focus exclusively on climate-smart agricultural production. Eligible projects include greenhouses, hydroponic systems and other climate-smart farming methods.

Applications for the grant can be submitted through the SME Digital portal.

The agricultural financing facility covers modern farming activities, including urban and protected agriculture, terrace and vertical gardening, poultry and small livestock farming, agro-processing and value addition, agroforestry and plant nurseries.

The scheme also provides financing for veterinary services, pet farms and pet supplies, according to the ministry.

The ministry said the two schemes aim to encourage investment by Maldivian farmers, strengthen the economy, expand the agricultural sector and increase youth participation in modern agriculture.