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- Operations
- Maldives Finance Leasing Company
Maldives Finance Leasing Company
Maldives
Borrower | Maldives Finance Leasing Company |
Financing Type | Private Sector & Trade Finance |
Instrument | Private Sector Debt |
Focus Area | Financial |
Approved | 11.09.2006 |
Signed | 13.03.2007 |
Status | Completed |
Loan Administrator | OPEC Fund |
OPEC Fund Contribution (US$m) | 3.00 |
This line of credit aims to strengthen development
of the non-bank financial sector in the
Maldives through support to the Maldives
Finance Leasing Company (MFLC). Incorporated
in 2001 as a specialized financial institution,
MFLC is the first leasing company in the
Maldives and has grown steadily since inception.
The company plays an instrumental role in
enhancing access to long-term financing for the
acquisition of capital assets by small and
medium sized businesses and is now seeking to
expand its portfolio of operations. By extending
this line of credit, OFID is supporting Government’s
strategy of deepening the financial sector
and developing a strong and diversified private
sector base.