BML Supporting Recovery of the Small and Medium Enterprise and Blue Economy Tourism Sector Project: Report and Recommendation of the President

The ADB funding package will contribute to economic recovery in Maldives by supporting one of its most critical sectors while mitigating climate change impacts. ADB’s longer-tenor loan financing will support onlending to tourism companies locally owned by Maldivian residents, of which at least 60% will be used for financing small and medium-sized enterprises (SMEs) as defined by BML and at least 10% will be onlent to firms owned by women. The report and recommendation of the President to the Board of Directors (RRP) document describes the terms and conditions of a project for consideration and approval by ADB's Board of Directors. This document dated April 2022 is provided for the ADB project 55156-001 in the Maldives.