The Ministry of Agriculture and Animal Welfare has announced that a total of 45 individuals have received financial support under the Government’s Dhanduveri Nafaa loan scheme since its launch in 2019.

In a post shared on X earlier today, the Ministry revealed updated statistics on the scheme’s progress. Since its inception six years ago through the SME Development Finance Corporation (SDFC), the scheme has disbursed MVR 15.9 million in loans.

The scheme supports a wide range of agricultural ventures, including vertical farming, greenhouse cultivation, and poultry farming. Many recipients have secured loans of up to MVR 2 million to establish and expand modern agricultural operations.

The Dhanduveri Nafaa scheme offers two categories of financial assistance: loans of up to MVR 100,000 with a repayment period of up to three years, and loans ranging between MVR 100,000 and MVR 2 million, which come with a maximum repayment period of seven years.

Both categories carry a fixed annual interest rate of 6 percent.

The Ministry stated that the scheme continues to play an important role in promoting sustainable agriculture and strengthening food security across the Maldives.

A total of 6699 farmers are currently registered at the ministry.