Bank of Maldives (BML) launches the BML Small Grants fund.

This is part of the series of 12 high impact monthly community initiatives to celebrate the Bank’s 40th anniversary in November, and is the fifth initiative launched so far.

BML sates that this grant fund is open for NGOs, and that eight projects will be selected to win a grant of MVR 250,000 each to successfully implement the plan.

BML aims to promote community-based projects that address environmental issues and promote sustainable development via these grant funds.

Speaking about the newly launched BML Small Grants fund, the bank's CEO and Managing Director, Tim Sawyer stated that the grant will support small to medium community-led initiatives that address environmental issues, support solutions for environmental challenges while at the same time, enhance community wellbeing and livelihoods for sustainable development. He also said that the bank is looking forward to see the NGOs using this opportunity to make a difference.

Community-based NGOs legally registered in the Maldives before 31st December 2021 are eligible to apply for the grant fund. However, Individuals, government bodies, business entities and other institutions cannot apply for the grant funds.

The application deadline is 15 May 2022.

BML started announcing their 40th Anniversary monthly initiatives last November. As such, they announced the BML Scholarship Fund on November 2021, followed by the Inspiring Learning - upgrading the National Library in December 2021. The bank launched BML Startup Grant in January 2022 and BML Housing Grant in February 2022.