The SME Development Finance Corporation (SDFC) has officially opened applications for a new soft loan scheme dedicated to supporting Maldives’ creative economy and empowering content creators across the nation.
The initiative, first announced by President Dr Mohamed Muizzu, follows the completion of technical preparations for the scheme. It is designed to expand the role of artistic and innovative industries in the national economy, while offering young professionals new opportunities within the fast-growing creative sector.
Eligible categories for financing include media content, audio-video-image production, entertainment, and specialised sales and marketing content.
SDFC has structured the scheme with two flexible financing tiers:
- Collateral-backed loans: Up to USD 32,425 to cover specialised equipment purchases or production costs.
- Non-collateral loans: Up to USD 9,727 for smaller-scale capital needs.
Both options feature a competitive profit rate of 9.5 percent, a six-month grace period, and a repayment window of up to five years.
The scheme underscores the government’s strong commitment to fostering a creative economy, one of the key pledges in its manifesto. By addressing ongoing challenges faced by artistic and innovative industries, the government aims to boost the sector’s contribution to the economy, targeting up to 15 percent of GDP.
In parallel, preparations are also underway to declare next year as the ‘Year of National Productivity’, as part of a wider strategy for economic diversification.
