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    Reference: 20200422
    Release date: 12 May 2020

    Promoter – Financial Intermediary

    BANK OF MALDIVES PLC

    Location

    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)

    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 data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Maldives Credit lines