The Economic Ministry received over 200 proposals to its loan program for small and medium-sized enterprises.

Deputy Minister Adam Thaufeeq said that the proposals will be evaluated within the next two months and that recipients will have access to their funds before December.

While the ministry’s deadline for application expires on Wednesday, it has allocated a total of MVR 38 million to the program.

Individual applicants are eligible for funds of MVR 500,000 while organizations can receive as much as MVR 1.5 million.