BML opens applications for Community Fund

Bank of Maldives (BML) has opened applications for proposals under the third phase of the ‘Aharenge Bank’ Community Fund.

In an announcement on Monday, the country’s national bank revealed that 10 projects will be selected among the received proposals under the third phase.

Applications for the Phase III is open from Monday, through November 21.

Projects selected in the areas of education, environment, sports and community development with be awarded MVR 50,000, similar to previous phases of the fund, said BML.

Individuals have been urged to email their proposals and application forms tocommunity@bml.com.mv, the proposal’s file size must not exceed a total of 10MB.

The ‘Aharenge Bank’ Community Fund is a program aimed at empowering individuals and NGOs to contribute to local communities through sustainable projects. The project 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.

Over the last year, BML has funded projects in 30 islands across the country under the Community Fund initiative.

The bank revealed that they will be supporting 20 community-based projects in the aforementioned sectors, to be implemented in three phases throughout the ongoing year with five projects supported in phases one and two, and 10 under the third phase.

The application forms may be downloaded throughhttps://www.bankofmaldives.com.mv/community-fund.

During 2019, the bank contributed MVR one million to fund projects in 20 islands including a community park in Nellaidhoo island, a library in Maaenboodhoo, a children’s park in Kihaadhoo as well as a classroom for special education need students in Gaafaru.