Council's highest priority will be to ensure ADB loan programs are implemented: Economic Minister

Minister of Economic Development and President of the Small and Medium Enterprises Council Ahmed Mohamed has said that the highest priority of the council will be ensure that the loan programs undertaken with aid from the Asian Development Bank (ADB) are properly implemented.

Speaking at the first meeting of the Small and Medium Enterprises Council last night, Minister Ahmed Mohamed said that the initial meeting of the council was historic as it marks the beginning of a new level of development for small and medium businesses in the Maldives. He said that the council’s highest priority would be establish the parameters and regulations for the loan program to be implemented in conjunction with ADB.

The council members last night discussed the draft of the governing regulation to be assembled by the council, which the law on small and medium enterprises requires for all small and medium business to enact.

The Economic Ministry also shared an overview of their planned efforts for the development of small and medium enterprises at the meeting last night.

As per the Small and Medium Enterprise Act, President Waheed instituted the 14-member Small and Medium Enterprises Council on the 28th of this month. The council is composed of representatives of relevant government bodies and private individuals.