'BML Fehi Project' launched under series of initiatives leading up to 40th anniversary

Bank of Maldives has introduced the ‘BML Fehi Project’ as part of BML’s series of 12 high-impact monthly community initiatives leading up to its 40th anniversary to be celebrated in November 2022.

The project will see 50,000 trees being planted on an annual basis, across the entire Maldives.

‘BML Fehi Project’ will be carried out for five years and each year, five islands will be selected to receive 10,000 plants sourced from local nurseries, to “reforest” and “rejuvenate” land spaces in islands, that have been identified for greening.

The project is anticipated to help accelerate the “much-needed” establishment of “healthy” vegetation on islands while simultaneously creating positive social impact for communities.

BML added that reforestation will also provide the added benefits of preventing soil erosion, reducing temperatures, offsetting carbon emissions and ultimately providing a “healthier” climate.

The project has since been opened “exclusively” for island and city councils and application forms can bee-mailedbefore 11:59pm of July 20.

BML has also revealed that further information can be accessed through its website .

The country’s national bank launched its scholarship fund during November 2021 as a first of the series, where fully funded international scholarships for three students in the area of Banking and Finance will be provided every year. Open to all, the fund carries the purpose of developing talented young Maldivians in the field.

The second event is the refurbishment and upgrading of the Maldives National Library, announced in December 2021.

The third event, launched in January 2022, is the ‘Startup Grant Fund’, that will pave the way for emerging entrepreneurs to win a grant funding to start or grow a business in the Maldives.

BML launched the ‘Housing Grant’ as the fourth initiative in February this year, with an aim to support vulnerable families by building and furnishing houses for three underprivileged families across the country.

Fifth comes the ‘Small Grants’ initiative which was launched in March, through which eight winning projects will be selected to win a grant of MVR 250,000 each, to implement their plan successfully.

The sixth initiative was launched in April, through which the Home for People with Special Needs (HPSN) in Guraidhoo island of Kaafu atoll will be refurbished and upgraded. The work is now reported to be underway.

The seventh initiative came on June 1; ‘Kindly by BML’ is the first of its kind online fundraising platform launched in the Maldives.