ADB is helping the Maldives promote the growth of micro-, small-, and medium-sized enterprises. The project will pilot credit assistance through the Bank of Maldives and enhance access to markets, technology, and information. It will establish business development service centers and a cost-sharing facility, and improve support infrastructure through public-private partnerships.
|Project Name||Private Sector Development Project (PSDP)|
|Project Type / Modality of Assistance||Loan
|Source of Funding / Amount||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Governance and capacity development
Private sector development
|Sector / Subsector||
Industry and trade - Small and medium enterprise development
|Gender Equity and Mainstreaming||No gender elements|
|Project Rationale and Linkage to Country/Regional Strategy|
|Description of Outcome|
|Progress Toward Outcome||Project is under winding up period.|
|Description of Project Outputs|
|Status of Implementation Progress (Outputs, Activities, and Issues)||
The Credit Information Bureau is fully operational.
The cost-sharing facility (CSF) and line of credit facility (LCF) mechanisms and supporting infrastructure have been designed and have been substantially subsidized.
Substantial progress in the PPP component supporting PPPs in a school, hospital and rehabilitation center have been made.
|Geographical Location||Republic of Maldives|
Summary of Environmental and Social Aspects
|Environmental Aspects||Likely to have minimal or no adverse environmental impacts. No further action is required.|
|Involuntary Resettlement||Has no involuntary resettlement impacts. No further action is required.|
|Indigenous Peoples||Not expected to have impacts on Indigenous Peoples. No further action is required.|
|Stakeholder Communication, Participation, and Consultation|
|During Project Design||Under the Project, public awareness seminars and campaigns will be undertaken to introduce BDS, the cost-sharing facility, the line of credit facility; and a credit information bureau registry. Moreover, key stakeholder seminars will be arranged to develop and deliver critical infrastructure and services through PPP.|
|During Project Implementation||Concerted efforts will be made to disseminate lessons and major outcomes|
Consulting services for the following will be provided by either individual consultants or consulting firms as follows:
A. Supporting Micro-, Small and Medium-Sized Enterprise (MSME) Promotion (by individual consultants)
1. Project Coordinator (full time international consultant, 24 person-months)
2. SME Portal and Communications Specialist (full time local consultant, 24 person-months)
3. Monitoring and Evaluation Specialist (full time local consultant, 24 person-months)
4. BDSC Operational Desks (2 Full Time Local Consultants, 24 person-months)
B. Enhancing Access to Finance: Credit Information Bureau Registry (by individual consultants)
1. Procurement Specialist (International Consultant, 3 person-months)
C. Project Preparation and Development on Pubilc Private Partnership (by 1 consulting firm)
1. PPP Expert and Team Leader (International Consultant, 6 person-months)
2. Infrastructure Financing Expert and Deputy Team Leader - Transport and Power (International Consultant, 6 person-months)
3. Procurement Expert (International Consultant, 4 person-months)
4. Legal and Regulatory Expert (International Consultant, 4 person-months)
5. Environmental and Social Expert (International consultant, 2 person-months)
6. Sectoral Experts (2 International Consultants, 4 person-months)
7. Support consultants (2 National Consultants, 5 person-months)
D. Enabling PPP Environment and Capacity Development (by 1 consulting firm)
1. PPP Institutional Expert & Team Leader (international consultant, 6 person-months)
2. Financing Management Specialist (international consultant, 3 person-months)
3. Public Finance Expert (international consultant, 3 person-months)
4. Legal and Regulatory Expert (international consultant, 3 person-months)
5. Support Consultants (2 National Consultants, 5 person-months)
Hardware and software for Credit Information Registry will be procured through international shopping.
The credit bureau implementation and operations require a combination of proprietary skills and experiences in the areas of (i) consumer finance and banking in general; (ii) credit reporting and financial industry legislation on a local and worldwide basis; (iii) personal data security, consumer protection and other legal compliance; (iv) public relations and media coverage, crisis management; (v) data processing management; (vi) operational support of credit bureau; (vii) documentation and training support; (viii) overall corporate managerial capabilities; (ix) IT project management; (x) software development and maintenance; and (xi) providing continuous evolution of solutions as technologies change and business needs. The Maldives Monetary Authority is seeking a technology partner with international experience to assist with the establishment of a World "best practice" credit bureau through this procurement bid. Against this background, the required solution should be both functionally rich and flexible, and moreover, it should be priced at a level appropriate to the scale and sophistication of the local market.
It is anticipated that the technical specification will have, as a minimum, the following features functionality, such as user access (user ID, user log-on, etc.), inquiry access, inquiry input fields (date and time, member details, product type, value of creidt sought, etc), application security, database content, data maintenance application, bililng system, etc.
|Responsible ADB Officer||Jensen, Martin D.|
|Responsible ADB Department||South Asia Department|
|Responsible ADB Division||Public Management, Financial Sector and Trade Division, SARD|
BANK OF MALDIVES
MALDIVES Ministry of Finance and Treasury
66032EXTRES [email protected]
Republic of the Maldives
|Last Review Mission||-|
|Last PDS Update||30 Sep 2013|
|Approval||Signing Date||Effectivity Date||Closing|
|20 Jun 2008||13 Jan 2009||08 Apr 2009||31 Aug 2011||28 Feb 2013||01 Oct 2013|
|Financing Plan||Loan Utilization|
|Total (Amount in US$ million)||Date||ADB||Others||Net Percentage|
|Project Cost||7.80||Cumulative Contract Awards|
|ADB||7.50||20 Jun 2008||6.24||0.00||99%|
|Cofinancing||0.00||20 Jun 2008||6.28||0.00||100%|
|Status of Covenants|
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.
The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
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.
|Title||Document Type||Document Date|
|Private Sector Development Project||Project/Program Completion Reports||Aug 2014|
|Project Agreement for Private Sector Development Project between Asian Development Bank and Bank of Maldives dated 13 January 2009||Project/Program Agreements||Jun 2008|
|Project Agreement for Private Sector Development Project between Asian Development Bank and Maldives Monetary Authority dated 13 January 2009||Project/Program Agreements||Jun 2008|
|Loan Agreement for Private Sector Development Project between The Republic of Maldives and Asian Development Bank dated 13 January 2009||Loan Agreement (Special Operations)||Jun 2008|
|Private Sector Development Project||Reports and Recommendations of the President||May 2008|
|Private Sector Development Project (PSDP)||Design and Monitoring Frameworks||Dec 2007|
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
Maldives: Private Sector Development Project – 2010To amend domestic regional inequalities in the Maldives, the government identified regional economic growth and diversification as key objectives of economic development in both the 6th and 7th National Development Plans. Infrastructure is to be developed in outlying atolls fostering regional centers designed to have airports, ports, and other facilities. This is expected to foster employment and income generation opportunities in the micro and small and medium enterprise (MSME) subsector.
No tenders for this project were found.
No contracts awarded for this project were found
None currently available.