Interest Buy Down for Maldives: Strengthening Fiscal Management and Sustainability Program

GRANT SUMMARY INFORMATION

SPECIAL FUND TYPE

SFW Grant

MEMBER

Maldives

SECTOR

Other

PROJECT NUMBER

S000661

FINANCING

APPROVED AMOUNT

USD2.74 million

TIMELINE

APPROVAL DATE

August 28, 2024

DESCRIPTION

AIIB approved a loan of USD15 million to the Government of Maldives for Strengthening Fiscal Management and Sustainability Program Project. The proposed Results-Based Loan (RBL) aims to strengthen fiscal sustainability and promote climate-resilient investments.

The project received a grant amount of USD2.74 million under the Special Fund Window for Less Developed Members to buy-down the interest of 100 basis points from the applicable interest.

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ABOUT AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond—infrastructure with sustainability at its core. We began operations in Beijing in 2016 and have since grown to 110 approved members worldwide. We are capitalized at USD100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

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