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

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

BML revealed that projects will be selected among the received proposals under the first 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.

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

Applications for the first quarter of the year are open from through February 27. Individuals have been urged to email their proposals and application forms to[email protected]by 11:59pm on February 27.

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 60 islands across the country under the Community Fund initiative.