Post-Tsunami Reconstruction & Rehabilitation Global Loan

Promoter – Financial Intermediary

Ministry of Finance and Treasury of the Republic of Maldives.

Location

• Maldives

Description

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.

Objectives

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.

Comments

Mainly tourism and environment.

Sector(s)

• Credit lines

Proposed EIB finance (Approximate amount)

EUR 50 million

Total cost (Approximate amount)

EUR 100 million

Environmental aspects

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

Procurement

EIB procurement guidelines will be applied.

Status

Signed - 5/04/2006