Circular Economy Development Grant Program – Maldives

Deadline: 20-Sep-2027

The Maldives matching grant supports individuals and businesses leasing uninhabited islands to develop sustainable infrastructure, improve operational efficiency, and strengthen self-sufficiency. The grant covers up to 40% of approved project costs, with a maximum award of $70,000 per application, while applicants must finance the remaining 60%.

About the Maldives Matching Grant

The program is designed to support leaseholders of uninhabited islands in the Maldives in establishing reliable operational systems and infrastructure. The funding focuses on investments that can improve productivity, reduce operating costs, promote environmentally sustainable practices, and reduce dependence on imported resources. The grant can support infrastructure and systems related to: The program operates as a matching grant, meaning applicants must contribute a significant share of the total project cost.

Key funding details include:

Grant coverage: Up to 40% of approved project costs

Maximum grant: $70,000 per application

Total funding window: $700,000

Applicant contribution: At least 60% of project costs

Possible sources of co-financing: Commercial bank loans, self-financing, or other verifiable funding sources

For example, if an eligible project has approved costs of $175,000, a grant of up to $70,000 could represent the maximum 40% contribution, while the applicant would need to provide the remaining $105,000. What Projects Can the Grant Support? The program prioritizes projects that establish or improve the operational base of leased islands. Energy-Efficient Irrigation Funding may support irrigation systems designed to improve water-use efficiency and reduce the resources required for island-based production. Production and Workflow Systems Applicants can propose production systems that improve workflow, productivity, and operational efficiency. Bio-Fertilizer and Bioenergy Solutions Projects involving bio-fertilizer and bioenergy can help island operators make better use of local resources while reducing dependence on imported inputs. Storage and Utility Infrastructure

Eligible infrastructure may include:

Storage facilities Jetties Utility systems Other supporting infrastructure required for sustainable island operations Projects should demonstrate a clear connection between the proposed investment and the long-term operational needs of the island. Why This Grant Matters Uninhabited islands can face significant logistical and operational challenges because of their remote locations and dependence on imported resources. The matching grant is intended to help leaseholders establish more resilient operating systems by: Improving operational efficiency Encouraging sustainable production Reducing dependence on imports Supporting renewable or environmentally friendly solutions Improving resource management Strengthening long-term island operations Encouraging private investment in sustainable infrastructure The program therefore combines financial assistance, sustainable island development, operational efficiency, and resource self-sufficiency. Who Is Eligible? The program is specifically targeted at leaseholders of uninhabited islands in the Maldives. Applicants must demonstrate that the island is leased through the Ministry of Fisheries, Agriculture and Ocean Resources. Applicants must also be able to demonstrate their ability to finance the remaining 60% of the approved project cost. Key Eligibility Requirements Applicants should be prepared to demonstrate: Valid leasehold rights over an eligible uninhabited island Legal identity or business registration A viable project concept A detailed project budget Availability of the required 60% co-financing Compliance with applicable tax requirements Financial and credit standing where required Quotations or cost evidence for proposed purchases Simply holding an island lease does not automatically guarantee funding. The proposed investment must meet the program’s objectives and satisfy the assessment and documentation requirements. How to Apply Applicants should prepare the project and financial documentation before submitting an application.

Step 1: Confirm Leasehold Eligibility

Verify that the applicant is the legitimate leaseholder of an eligible uninhabited island leased by the Ministry of Fisheries, Agriculture and Ocean Resources.

Step 2: Develop the Project Concept

Clearly explain:

What problem the project will address What infrastructure or system will be developed How the investment will improve island operations How the project will promote sustainability How the project will reduce import dependence or improve resource efficiency

Step 3: Prepare the Project Budget

Prepare a detailed budget covering all major project expenses. Obtain quotations for proposed equipment, construction, infrastructure, or other significant purchases where required.

Step 4: Secure the 60% Contribution

Applicants must demonstrate how they will finance the portion of the project not covered by the grant.

Potential sources include:

Commercial bank financing Self-financing Other verifiable financing sources

Step 5: Gather Supporting Documents

The application package may include:

Completed application form National identification documents or business registration documents Proof of island leasehold Detailed project concept Detailed project budget Evidence of the 60% contribution Tax clearance Relevant credit reports Supplier quotations Other documents required by the program

Step 6: Submit the Application

Submit the completed application and supporting documentation through the designated application process. Applicants should ensure that all required information is complete and consistent before submission. Common Mistakes to Avoid Applicants can improve the quality of their submissions by avoiding common documentation and planning problems. Do not underestimate the 60% contribution requirement. Applicants must demonstrate credible financing for their s