Bank of Maldives (BML) has unveiled its Green Resort Financing initiative, aimed at supporting resorts in adopting sustainable business practices and environmentally friendly operations.
The launch took place during the Maldives Association of Tourism Industry’s (MATI) Annual General Meeting, with Hussain Afeef, Chairman of Crown and Champa Resorts, and BML’s CEO and Managing Director Mohamed Shareef in attendance.
Designed to promote sustainability in the tourism sector, the Green Resort Financing facility offers financial support for projects such as coastal protection, reforestation, energy-efficient systems, and waste management initiatives.
The facility provides resorts with an overdraft of up to MVR 50 million at a competitive interest rate of 6.5% per annum. Resorts can also benefit from flexible repayment options linked to their card collection systems, offering increased financial agility to implement eco-friendly solutions.
Speaking at the launch, Mohamed Shareef emphasized BML’s commitment to the tourism industry. “As the country’s leading financial institution, we remain dedicated to empowering the tourism sector with innovative solutions. The Green Resort Finance facility is tailored to help resorts implement sustainable practices while maintaining operational efficiency,” he said.
Resorts interested in the Green Resort Financing facility can reach out to their assigned Relationship Managers at BML for further information.