Project Data Sheet

Project Data Sheets (PDS) contain summary information on the project or program: Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

PDS Creation Date
PDS Updated as of 19 Mar 2007

Project Name SECURED LOAN REPUBLIC OF THE MALDIVES: SOUTH ASIAN SME LEASING FACILITY
Country Maldives
Project/Program Number 40935-014
Status Approved
Geographical Location Republic of Maldives
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
Sector and/or Subsector Classification Finance
/ Small and Medium Enterprise Finance and Leasing
Thematic Classification Economic growth
Private sector development
Gender Mainstreaming Categories

Financing

Type/Modality of Assistance Approval Number Source of Funding Approved Amount (thousand)
PS7250/2322Private Sector Loan4,500
TOTAL US$ 4,500

Summary of Environmental and Social Issues

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples

Stakeholder Communication, Participation and Consultation

During Project Design
During Project Implementation

Description

The transaction involves direct loan of up to $4.5 million to Maldives Finance Leasing Company Pvt. Limited (MFLC). The tenor of the loan to MFLC will be 5.5 years and will have an availability period of 2 years and allow the company to draw down the proceeds in three tranches of $1.5 million and in time intervals of 6 months for each tranche.1

Objectives and Scope

The proposed ADB assistance is expected to strengthen the leasing industry and expand the funding resources and financial services available to the small and medium-sized enterprises (SMEs) sector in Maldives. The proposed loan to Maldives Finance Leasing Company Pvt. Limited (MFLC) will provide them long-term funds and thereby enable them to promote alternative financing instruments to SME entrepreneurs, promote their operations and profitability, and enhance their competitiveness. Leasing companies can also boost capital markets development.

Project Rationale and Linkage to Country/Regional Strategy

Outputs and Implementation Progress

Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
Status of Development Objectives
Material Changes

Business Opportunities

Date of First Listing
Consulting Services
Procurement
Procurement and Consulting Notices
http://www.adb.org/projects/40935-014/business-opportunities

Timetable

Concept Clearance 27 Jul 2006
Fact-finding
Management Review Meeting 08 Feb 2007
Approval 27 Mar 2007
Last Review Mission 09 Oct 2006 to 19 Oct 2006

Milestones

Approval No. Approval Signing Effectivity Closing
Original Revised Actual

Contacts and Update Details

Responsible ADB Officer William Willms ( @adb.org)
Responsible ADB Department Private Sector Operations Department
Responsible ADB Divisions Capital Markets and Financial Sectors Division
Executing Agencies

Links

Project Website http://www.adb.org/projects/40935-014/main
List of Project Documents http://www.adb.org/projects/40935-014/documents