BML introduces Bank Fund: kids disseminate info

Bank of Maldives (BML) on Tuesday, introduced the 'Bank Fund' to empower NGOs to contribute to their communities through sustainable projects.

Information of the 'Bank Fund' came with delightful new twist, as it was disseminated by children.

On the bank's decision to employ children to provide information on the fund, an official from BML spoke to 'Sun' noting that majority of these community empowerment projects are focused on enhancing the livelihood and experiences of children.

Highlighting the objectives of the 'Bank Fund', the bank recalled its Community Fund launched five years ago, which has funded a total of 100 community-centric initiatives nationwide.

BML also noted extension of MVR 2 million under the Small Grant Fund to eight organizations for various community-based initiatives.

The 'Bank Fund' invites proposals for ideas that promote sustainability and prove a social opportunity.

Every year, five projects in the areas of education, environment, sports and community development will be selected to receive MVR 200,000 each, the bank said.

Speaking about the new fund, BML's CEO and Managing Director Karl Stumke said, "As an integral part of being a sustainable and responsible business, we invest back into the communities we serve by supporting community initiatives."

"One significant program was the Community Fund which had provided support to a total of 100 community-led projects since 2019. The Bank Fund we launched today is a revamped initiative to provide our community organizations with even better opportunities."

The 'Bank Fund' is opened for locally registered NGOs, charity organizations and clubs. Application form and proposal should be submitted to [email protected] before 23:00hrs on June 10, 2024.