Develop Bank Credit Documentation Service for Grant Compliance
- Organization
- Maldives Ministry of Fisheries and Ocean Resources
- Sector
- Maldives fisheries SMEs applying for matching grants
- Location
- Maldives
Source reference
Executive summary
Current state
World Bank has disbursed $11.66M to Maldives Ministry of Fisheries with $54M more available for private sector competitiveness, but the matching grant scheme requires SMEs to contribute 60% co-investment, creating a commercial gap where the Ministry has capital but lacks SME reach and SMEs need funding but lack application expertise.
Market catalyst
The matching grant requires SMEs to prove 'increased commercial bank credit' as one of three competitiveness criteria, but most SMEs lack understanding of what evidence is required, how to document it properly, and how to calculate the increase. The Ministry provides no guidance on acceptable documentation standards, creating a compliance gap where otherwise qualified SMEs fail due to poor documentation.
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