Release date: 12 May 2020
Promoter – Financial Intermediary
BANK OF MALDIVES PLCLocation
Description
Dedicated credit line for re-establishing the economy through financing micro, small and medium-sized private sector projects in industry, tourism and other service sectors affected, directly and indirectly, by the COVID-19 outbreak.
Objectives
The project is a dedicated credit line for the continuation of re-establishing the economy through financing of small and medium-sized enterprises (SMEs) in private sector projects in industry, tourism and other service sectors affected, directly and indirectly, by the COVID-19 crisis. The original SME Facility was fully disbursed on 30 October 2020 and allocated by the end of April. The objective of the additional financing is to continue to help cushion the economic impacts of COVID-19 by providing support to affected businesses. The facility would directly target affected populations within a wide geographic and economic distribution across the Maldives.
Sector(s)
- Credit lines - Credit lines
Under ELM Guarantee
This operation is covered by the ELM Guarantee.
Proposed EIB finance (Approximate amount)
EUR 40 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 15/06/2020
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).