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The OPEC Fund
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  1. Operations
  2. Supporting SMEs in Maldives

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Supporting SMEs in Maldives

Maldives

Borrower Bank of Maldives
Financing Type Private Sector & Trade Finance
Instrument Private Sector Debt
Focus Area Financial
Approved 24.07.2020
Signed 06.05.2021
Status Completed
Loan Administrator OPEC Fund
Co-financiers IFC
OPEC Fund Contribution (US$m) 10.00

The proposed loan in the amount of US$ 10Mn to participate in the syndication arranged by IFC is to address the crisis caused by the coronavirus (“COVID19”) global pandemic which has virtually halted the tourism industry, resulting in a liquidity crunch in related sectors. The use of proceeds will be directed towards supporting SMEs in the tourism and services sectors in the Maldives, which have been severely impacted due to COVID-19

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