Bank of Maldives (BML) has opened applications for proposals under the second 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 for individuals and registered NGOs under the Community Fund initiative’s second phase for 2023.

BML revealed that 10 projects will be selected from among the received proposals under the second phase and that projects selected in the areas of education, environment, sports and community development will be awarded MVR 50,000, similar to the previous phase.

Applications for the second quarter of the year are open through 11:59pm on August 10.

Registered community-based organizations, NGOs, charities and clubs have been urged to email their proposals and application forms to[email protected].

BML opened applications for proposals under the first phase of the ‘Aharenge Bank’ Community Fund, for the ongoing year in mid-March.

The ‘Aharenge Bank’ Community Fund is a programme aimed at empowering individuals and NGOs to contribute to local communities through sustainable development projects. The offer 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 90 projects across the country under the Community Fund initiative.

A total of 20 projects are to be funded during 2023, as in previous years.