SME Development Finance Corporation (SDFC), has said that they issued 2,205 loans last year.

A statement issued by SDFC said that amid the COVID-19 pandemic last year, SDFC introduced a special loan scheme in association with the Ministry of Finance and Treasury under the government's economic recovery package to assist businesses during nthe pandemic.

And so, under the newly introduced loan scheme, a total of MVR 381,086,730 was loaned to 1,520 businesses and 685 individuals.

SDFC said that they have provided assistance to numerous small businesses since it's inception on 18 March 2019 to aid small businesses.

The statement from SDFC said that a total of MVR 343,940,116 were loaned to 287 customers in 2019 while MVR 420,189,707 was loaned in total last year to 305 customers.

While loans have been given throughout the country in the past two years, 33 percent of those loans were to youth and women.