Economic Ministry have said that number of women operating small and medium enterprises have increased in the Maldives. Ministry said that there are more females than males on those who apply for loan grants targeted for small and medium enterprises.
“Men are doing regular jobs while women prefer doing businesses on their own, youth engagement in these loans are increasing “said an official from the Ministry.
Economic Ministry said that they gave 112 million Rufiyaa as loans to small and medium enterprises. They plan to give another 120 million this year.
Ministry said that a lot of people are applying for the loans. Last year 460 people applied but only 61 were given loans. Ministry said that they need further cooperation from the banks to finance these loans.
In addition, Economic ministry is planning to lend 50 million Rufiyaa as loans without any collateral. Apart from giving loans, ministry is also helping people with money to start up profitable ventures.
Women in small and medium enterprises have increased in Maldives
