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POST-TSUNAMI LINE OF CREDIT - MALDIVES

Signature(s)

Amount
€ 50,000,000
Countries
Sector(s)
Maldives : € 50,000,000
Credit lines : € 50,000,000
Signature date(s)
5/04/2006 : € 50,000,000
Link to source
Data sheet
POST-TSUNAMI LINE OF CREDIT - MALDIVES
Other links
Summary sheet
Post-Tsunami Reconstruction & Rehabilitation Global Loan
Related press
EIB loan for post-tsunami reconstruction in Maldives

Summary sheet

Release date
29 July 2005
Status
Reference
Signed | 05/04/2006
20050350
Project name
Promoter - financial intermediary
Post-Tsunami Reconstruction & Rehabilitation Global Loan
Ministry of Finance and Treasury of the Republic of Maldives.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 50 million
EUR 100 million
Location
Sector(s)
Description
Objectives

Global loan through the Ministry of Finance to the Bank of Maldives for financing projects in areas affected by the Tsunami in December 2004, including rehabilitation, replacement or reconstruction of infrastructural and business installations mainly in the tourism sector.

The purpose of the project is to provide long term funding to the tourist industry for reconstruction and development of the sector as well as for environmental protection and disaster prevention.

Environmental aspects
Procurement

The borrower will be requested to ensure that the final beneficiaries comply with the local legislation and with EIB rules and guidelines, as appropriate.

EIB procurement guidelines will be applied.

Comments

Mainly tourism and environment.

Link to source
Summary sheet
Post-Tsunami Reconstruction & Rehabilitation Global Loan
Other links
Data sheet
POST-TSUNAMI LINE OF CREDIT - MALDIVES
Related press
EIB loan for post-tsunami reconstruction in Maldives

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

News & Stories

Link to source
Related press
EIB loan for post-tsunami reconstruction in Maldives
Other links
Data sheet
POST-TSUNAMI LINE OF CREDIT - MALDIVES
Summary sheet
Post-Tsunami Reconstruction & Rehabilitation Global Loan

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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