Bank of Maldives- $2 Million Financing Facility

Monday 16th of March 2020

Bank of Maldives- $2 Million Financing Facility

On 15th March, Bank of Maldives (BML) announced a $2 million short-term financing facility for the tourism industry, as it suffers from one of the biggest decreases in tourism arrivals ever in Maldives history.

With resorts locked down, check-ins restricted in hotels and guesthouses and travel restrictions, one of the most popular tourist destinations in the world, ‘the Paradise on Earth’, faces a huge economic downturn as its second largest industry suffers from the escalating coronavirus outbreak.

Bank of Maldives CEO: Although any impact will depend on the extent and duration of the outbreak, our tourism industry and local businesses are already facing an unprecedented set of challenges. As the national bank, it is our responsibility to support these businesses through this period.

The financing facility allows operational resorts and guesthouses finance up to $2 million to manage their working capital requirements, with a repayment period of three years. To apply, customers can get in touch with their Relationship Manager, visit the nearest branch or call the bank’s Contact Centre at 3330200 for further details.