Release date: 29 July 2005
Promoter – Financial Intermediary
Ministry of Finance and Treasury of the Republic of Maldives.Location
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)
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
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).