EU Supports Recovery of Small Tourism Businesses in Maldives
In a significant boost to the Maldives' tourism sector, the European Union (EU) has awarded recovery grants to 20 local guesthouses in Thulusdhoo. This initiative is part of the EU-grant aid project “EU Support for a Resilient Recovery of SME Tourism Industry in the Maldives,” under which EUR 2 million were allocated (nearly MVR 36 million) to aid the tourism sector's recovery from the COVID-19 pandemic.
The grant ceremony highlighted the EU’s commitment to strengthening the local tourism industry. Ms. Jenny Correia Nunes, Head of Cooperation at the EU Delegation to Sri Lanka and the Maldives, emphasized that the project supports small businesses hardest hit by the pandemic, aligning with the Maldivian government’s goals of diversifying tourism and involving local communities.
To date, EUR 1.4 million (around MVR 25 million) has been allocated for SME recovery, benefiting 219 entities, including 181 guesthouses and 38 safari vessels. By the end of the project, more than 600 micro, small, and medium-sized enterprises (MSMEs) are anticipated to receive support.
Deputy Minister of Economic Development, Mr. Hussain Zamir, expressed gratitude for the EU's contribution, acknowledging its crucial role in the sector's recovery.
