Economic Ministry to extend deadline for loan submissions under women's day special loan scheme

The Economic Ministry had earlier in mid-February instigated a special loan scheme in commemoration of International Women’s Day and have since extended the deadline for the special Women’s Loan Scheme till the 15th of March

In an announcement published by the Economic Ministry they have revealed that many are applying for the loan scheme and to pave way for more submission opportunities, they have extended the deadline for loan submissions till the 15th of March.

Under the loan scheme specialized for women, the maximum amount endorsed is set between MVR 50,000 and 200,000.

The Economic Ministry said that the opportunity has been opened for those who have applied for a loan in between MVR 50,000 – 100,000, to upsurge their requested amount.

According to the Ministry, submission forms will be accepted between 10:00 am and 02:00 pm on week days.

While 9% interest rate is included in the special Women’s Loan Scheme, the deadline for compensation is set to be paid off within a year.

The total amount that sums up the Women’s Loan Scheme is MVR 20 million.

Along with the Women’s Loan Scheme, Get Set Loan and SME Loan have also been instigated by the Economic Ministry.

Economic Ministry had allocated a budget of MVR 190 million for the load scheme for the year 2018.