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- Southern Atolls Development Project
Southern Atolls Development Project
Maldives
| Borrower | Maldives |
| Financing Type | Public Sector |
| Instrument | Project Loan |
| Focus Area | Financial |
| Approved | 26.06.1996 |
| Signed | 25.10.1996 |
| Status | Completed |
| Loan Administrator | OPEC Fund |
| Executing Agency | Ministry of Finance and Treasury |
| Co-financiers | IFAD, Bank of maldives, Beneficiaries, Other co- financier, Government |
| OPEC Fund Contribution (US$m) | 1.50 |
| Total Project Cost (US$m) | 8.81 |
This project helped support community development in the southern atolls, where social services were either under-developed or non-existent. Expanding banking facilities, placing particular emphasis on lending to women supported income- and employment generating activities. A savings and loan repayment facility was provided on every island, and establishing a line of credit to the Bank of Maldives extended financial services further.