Deadline: 10-Jun-2024
Applications are now open for the Bank Fund that empower local NGOs to contribute to their communities through sustainable and innovative projects.
Thematic Areas
- They will support 5 sustainable and innovative projects in the thematic areas of:
- Education
- Environment
- Sports
- Community Development
Funding Information
- Successful Applicants shall receive a maximum funding of MVR 200,000 each. The Project has to be completed within the funds granted.
- Only one grant will be awarded per organization.
Project Implementation
- Winners shall agree to deliver the Projects within a maximum of 6 months stated in the application Form of the winning parties. Any extension shall be requested in writing and agreed between both parties. Such an extension shall be at the sole discretion of the Bank.
What are they looking for?
- They’re seeking innovative community projects that are not only economically sustainable and innovative but also able to generate revenue for long-term viability.
- Projects addressing societal or environmental challenges are of particular interest.
- All winning projects must contribute to the well-being of society by promoting responsible values and actions.
- Projects must be implemented with a responsibility towards society and the environment. It must not leave a negative impact on communities and/or the environment.
Who Can Apply?
- The project is open for
- Local Non-Governmental Organizations (NGOs)
- Community-Based Organizations (CBOs),
- Individuals, government bodies, business entities and other institutions that are State funded are not eligible.
- Employees of Bank of Maldives and their immediate family members are not eligible.
- The applicant should have a bank account with Bank of Maldives or should have applied to open a bank account before the project is awarded.
Criteria
- Only legally registered community-based organizations, non-governmental organizations, charities and clubs can apply.
- All Applicants must meet the credit worthiness requirements of the Bank of Maldives.
- In cases where approval/permits from other entities (such as a parent entity or subsidiary entity) is required, applicant should discuss the Project with the responsible body prior to submission of application and obtain the relevant written approvals.
- Applicant must be able to demonstrate financial viability to undertake the Project.
- Applications aimed to promote any corporate organization or political activities will not be accepted.
- Applications with Projects that have already been implemented or are to be completed before the Bank Fund payment is granted will not be accepted.
- The activities covered under the Project must support the sustainability focus areas, Sports, Education, Environment and Community Development
- The Applicant should not have been blacklisted by any Ministries, Agencies, any National/International Funding Organizations, any financial institutions of the Maldives including the Bank of Maldives.
For more information, visit Bank of Maldives.