Bank of Maldives (BML) has opened applications for proposals under the second phase of the ‘Aharenge Bank’ Community Fund, for the ongoing year. ‘Aharenge Bank’ translates as " My Bank"

The country’s national bank made the announcement on Monday, revealing that proposals are invited for individuals and registered NGOs under the Community Fund initiative’s second phase for 2022.

BML revealed that five projects will be selected from among the received proposals under the second phase and that projects selected in the areas of education, environment, sports and community development will be awarded MVR 50,000, similar to previous phases of the fund.

Applications for the second quarter of the year are open through June 18.

Registered community-based organizations, NGOs, charities and clubs have been urged to email their proposals and application forms to[email protected]by 11:59pm on June 18.

The ‘Aharenge Bank’ Community Fund is a programme aimed at empowering individuals and NGOs to contribute to local communities through sustainable development projects. The offer is open for individuals, local NGOs, Community-Based Organizations (CBOs), women’s development groups, tech community movements and youth empowerment groups. Government and business entities are not eligible for the program.

Since the initiative was launched, BML has funded projects in 65 islands across the country under the Community Fund initiative.

A total of 20 projects will be funded during 2022, similar to previous years.