Bank of Maldives (BML) has opened applications for proposals under the third phase of the ‘Aharenge Bank’ Community Fund, for the ongoing year.

The country’s national bank made the announcement on Monday, revealing that proposals are invited under the Community Fund initiative’s third phase.

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

Applications for the third quarter of the year are open from through September 11. Individuals have been urged to email their proposals and application forms to[email protected]by 11:59pm on September 11.

The ‘Aharenge Bank’ Community Fund is a programme aimed at empowering individuals and NGOs to contribute to local communities through sustainable projects. The project 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 50 islands across the country under the Community Fund initiative.