The Capital Market Development Authority (CMDA) and the United Nations Development Programme (UNDP), with support from the UK Government, have jointly launched a Joint Financing Facility (JFF) in the Maldives to support micro, small, and medium enterprises (MSMEs) undertaking projects aligned with the Blue Economy.

The facility introduces a dedicated financing framework aimed at addressing long-standing challenges in accessing capital for value-added and sustainability-focused ventures in the fisheries, tourism, and marine trade and services sectors. By covering a predetermined portion of financing costs incurred by banks, principal advisors, and other financial service providers, the JFF will enable funds to be provided at concessional rates.

The launch of the JFF is a significant step towards building a more robust financial architecture in the country. By leveraging both banking and capital market channels, the initiative is expected to play a key role in mobilising sustainable investments and supporting the Maldives’ transition to a blue and inclusive economy.

In this context, CMDA and UNDP have invited expressions of interest from financial institutions and principal advisors to participate in the facility. The JFF is designed to de-risk lending and unlock capital for Blue Economy MSMEs through blended finance, capacity-building, and evidence-based policymaking.

Eligible financial institutions can request up to MVR 300,000 in risk financing per project, while principal advisors supporting capital market listings may access up to MVR 500,000, depending on the leverage proposed.

The facility offers two engagement tracks. Under Track A, financial institutions are required to propose concessional loan products, conduct due diligence, and submit projects that meet JFF’s sustainability criteria. Institutions offering competitive leverage proposals will formalise their role through a Memorandum of Understanding (MoU) and may receive risk support to facilitate lending.

Under Track B, principal advisors are invited to support ESG-aligned businesses aiming to list on the CMDA’s Viyana platform. Once approved, project sponsors may receive up to MVR 500,000 in preparatory grants to support the development of their prospectus and listing efforts.

To qualify, project sponsors must be legally registered in the Maldives with a minimum of two years of verified operations, demonstrate a recurring revenue model, and present a business plan with expenditure linked to eligible Blue Economy sectors such as fisheries, tourism, or resilience-building initiatives.

The JFF respects the independent credit assessment processes of participating institutions, with lending terms, including collateral requirements, remaining at the discretion of the lender.

Proposals must be submitted by 12:00 p.m. on 27 August 2025 via email to [email protected].

The facility is poised to play a transformative role in financing sustainable growth, strengthening the capital market, and advancing environmental and economic resilience in the Maldives.