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Majority of Dhanduveri Nafaa Loans Directed Toward Modern Agriculture, Says SDFC
07 May 2025
The SME Development Finance Corporation (SDFC) has revealed that a significant portion of the Dhanduveri Nafaa loans, issued in collaboration with the Ministry, have been utilized to support modern agricultural practices.
According to Aminath Muha, Deputy Manager of SDFC's PPR Unit, since the introduction of the Dhanduveri Nafaa loan scheme in 2019, the majority of applicants have chosen to invest in modern agriculture. Notably, many have taken loans of up to MVR 2 million for ventures such as vertical farming and greenhouse cultivation.
While modern agricultural methods have seen strong uptake, SDFC noted that comparatively less interest has been shown in sectors like poultry or chicken farming.
The Dhanduveri Nafaa loan scheme offers two categories of financial assistance:
- Up to MVR 100,000: with a repayment period of up to 3 years.
- Between MVR 100,000 and MVR 2 million: with a maximum repayment period of 7 years.
Both loan categories carry an annual interest rate of 6 percent.
SDFC continues to encourage the diversification of agricultural ventures to include a broader range of farming practices across the country.