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- Construction of Harbours for the Tsunami Victims Project (Phase I)
Construction of Harbours for the Tsunami Victims Project (Phase I)
Maldives
Borrower | Maldives |
Financing Type | Public Sector |
Instrument | Project Loan |
Focus Area | Transportation |
Approved | 28.08.2007 |
Signed | 12.04.2008 |
Status | Completed |
Loan Administrator | OPEC Fund |
Executing Agency | Ministry of Construction and Public Infrastructure (MCPI) |
Co-financiers | Government, SFD, ISDB |
OPEC Fund Contribution (US$m) | 6.00 |
Total Project Cost (US$m) | 43.40 |
The 2004 Tsunami catastrophe destroyed a tremendous amount of infrastructure in the Maldives. Within the framework of Government’s recovery and reconstruction program, the project will construct new harbors on 10 selected islands, with the aims to facilitate inter-island travel and help revive the fisheries sector, as well as ease the transfer of imported goods and provide adequate harbor capacity for handling passenger traffic. Each harbor will be built with a rock-filled breakwater and reinforced retaining wall, and will be dredged to a minimum depth of 70 m. The completed harbors will help promote the economic recovery of the Maldives, and provide a large number of employment opportunities both during and after the project’s implementation.