SDFC Launches New Financing Scheme for Women Entrepreneurs in Maldives

The SME Development Finance Corporation (SDFC) has announced the launch of a new Financing Scheme for Women Entrepreneurs, scheduled to open in November 2025. The initiative aims to empower women to step into entrepreneurship by offering accessible financial assistance, boosting economic independence, and promoting the growth of women-owned businesses.

Under this scheme, women entrepreneurs across various sectors will be able to apply for financing through the SME Portal, with applications opening during the first week of November. SDFC stated that further details of the program will be shared in the coming days.

The introduction of this scheme builds on SDFC’s existing financing initiatives, including the Fashaa Madhadhu Loan Scheme, launched in 2024 in collaboration with the Ministry of Economic Development and Trade and the Ministry of Social and Family Development. With a total allocation of MVR 100 million, the scheme is being rolled out in five phases of MVR 20 million each, with 25% of every phase reserved for persons with disabilities.

Success of Phase 1

In 2024, the first phase approved loans for 63 recipients, including 4 persons with disabilities. The loans supported 13 different types of businesses across 16 atolls, including Male’. Ventures financed ranged from wholesale and retail to tailoring, salons, handicrafts, food factories, photography, fitness centers, fish processing, education, healthcare, and bakeries. Currently, 45% of the loans are already operational, while SDFC continues to monitor and support other projects as they launch.

Progress of Phase 2

Between June 15 and August 31, 2025, the second phase of Fashaa Madhadhu received 205 applications. Of these, 47 applications remain under processing, and 8 loans have been approved, with disbursements ongoing. As the MVR 20 million allocation for the phase has already been fully utilized, 110 applications have been placed on a waitlist.

New Start-up Financing for Women

SDFC Managing Director Badhurudheen Hassan said the new scheme represents a major step toward creating opportunities for women entrepreneurs:

“This scheme opens a pathway for Maldivian women entrepreneurs to showcase their skills and capabilities. By providing financial assistance with easy and flexible repayment terms, it enables women to step into the business sector, establish their own ventures, and contribute to sustainable economic progress. Through this opportunity, many women are expected to achieve their business goals and attain their entrepreneurial goals.”

The Financing Scheme for Women Entrepreneurs is expected to play a key role in encouraging women to establish and expand their businesses, ultimately strengthening their role as active contributors to national economic development.