MVR 10.1 million disbursed as income support allowance
The MVR 10.1 million was disbursed to 2,507 individuals by July
Ministry of Finance
MVR 10.1 million has been issued as income support allowance.
According to the Ministry of Finance, the MVR 10.1 million was disbursed to 2,507 individuals by July 3.
The income support allowance scheme was introduced by the government in May, as a relief for individuals experiencing financial difficulties as a result of employment issues due to the Covid-19 crisis.
Under the support scheme, government will grant an allowance of up to MVR 5,000 to individuals that fall into four main categories: those that were dismissed or suspended from employment, individuals on leave without pay, individuals facing salary deductions and freelancers.
All individuals employed before March 1, currently facing dismissals or suspensions and placed on leave without pay are eligible to receive an allowance of MVR 5,000 under the scheme.
The three-month allowance, totaling MVR 15,000, will be awarded from April to June.
Eligible individuals are to receive the income support allowance monthly, before the 15th day and applicants must be aged between 18 and 65 years and employed in the Maldives by March 1.
The regulations under the income support allowance state that criminal action will be taken against individuals who provide false information when applying.
Under the recovery loan scheme, a total of MVR 109.7 million has been disbursed for 717 businesses that applied for loans at the SDFC while MVR 8.8 was issued for 196 self-employed individuals by July 3rd.
In total, MVR 118.5 million has been issued for 1,013 individuals under the loan scheme.
