Minister of Climate Change, Environment and Energy Ali Shareef stated today that the Vilunveshi program, which currently offers grants up to MVR 100,000, is planned to be opened up to companies in the future.

This program is an initiative carried out by the government to foster sustainable environmental conservation practices and create opportunities for income generation.

Speaking at a press conference held at the President's Office today to brief journalists on the Environment Ministry's work, Minister Ali Shareef stated that the decision to expand the program—run jointly by the ministry and SME Digital with financial assistance from the Asian Development Bank (ADB)—to include companies was due to overwhelming support and a desire to further broaden the scope of the initiative.

He noted that while opportunities under the Vilunveshi program are currently limited to individuals, it has been decided to open up the opportunity to include companies next year.

Under the program's current arrangement, selected applicants receive financial assistance of up to MVR 100,000, but the Minister stated that when the program is expanded to include companies, the grant amounts will increase.

"The reason for opening up to innovative projects is that many startups are waiting for an opportunity, unable to enter the market without some level of assistance," the Minister said.

Minister Ali Shareef also stated that out of the proposals received for the Vilunveshi Grant Program announced last June, the evaluation of 150 proposals is currently underway. He added that once this evaluation stage is complete, the selected recipients of the program will be announced in November. The evaluation process is being conducted in collaboration between the ministry and the SME Bank.