New Agricultural Grants and Islamic Loans Launched to Boost Modern Farming

Minister of Fisheries, Agriculture and Ocean Resources Ahmed Shiyam has launched two agricultural financing initiatives, the Dhanduveri Manfaa Grant and the Dhanduveri Nafaa Loan, during an official visit to Kelaa in Haa Alif Atoll. The launch marks the opening of the second round of the Dhanduveri Manfaa Grant and the inaugural round of the Dhanduveri Nafaa loan. The latter is a transition of the previous Nafa Loan Scheme, now restructured as an Islamic financing facility. Both programs are being implemented in partnership with SME Digital to streamline access for applicants. The Dhanduveri Manfaa Grant, a matching-grant scheme valued at USD 972,763, is part of the Maldives Agribusiness Programme (MAP). Developed in collaboration with the International Fund for Agricultural Development (IFAD), the grant provides critical financial assistance to farmers, agricultural NGOs, small and medium enterprises (SMEs), and cooperative societies. Eligibility is currently limited to farmers within MAP project areas, specifically Haa Alif, Haa Dhaalu, and Shaviyani atolls. Following the success of the first round, the second phase of the grant focuses exclusively on climate-smart production. This includes funding for the installation of greenhouses, hydroponics, and other sustainable farming systems designed to withstand environmental challenges. To facilitate the process, the ministry has conducted information sessions across project islands, with applications now being accepted through the SME Digital Portal. Complementing the grant, the Dhanduveri Nafaa financing facility targets a broader range of modern agricultural ventures. Eligible projects include urban and protected farming, vertical gardening, poultry and small livestock farming, and agroforestry. The facility also extends to agro-processing, plant nurseries, and veterinary services to improve animal welfare. By providing these targeted financial tools, the government aims to modernize the domestic agricultural landscape and stimulate economic growth. A primary goal of these schemes is to reduce the barrier to entry for young entrepreneurs, encouraging a new generation to adopt technology-driven farming practices to enhance national food security.