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Source: Japan International Cooperation Agency

signing ceremony

On Sept. 30, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of the Republic of Maldives in Male’ to provide a Japanese ODA loan of up to 5 billion yen for the COVID-19 Crisis Response Emergency Support Loan.

The objective of the program is to mitigate the negative social and economic impacts of the COVID-19 (Coronavirus disease 2019) pandemic through concessional financing to the Government of the Republic of Maldives. This will implement economic policy aimed at expansion of social welfare for the vulnerable population, thereby contributing to promoting the country’s social and economic stabilization and its development efforts. This project will contribute to the achievement of SDGs Goals 1, 3, 5 and others.

Details for the project are provided below.

1. Terms and Amount of Loan

Project title Amount
(million yen)
Annual interest rate (%) Repayment
period
(years)
Grace
period
(years)
Procurement
Project Consulting services
COVID-19 Crisis Response Emergency Support Loan 5,000 0.01 15 4 General untied

2. Executing Agency
Ministry of Finance
Address: Male’ 20379, Republic of Maldives
Phone: +960-3349248

3. Planned Implementation Schedule
(1)Completion of project:October 2020 – when the loan is executed
(2)Issuing of letters of invitation for consulting services (including detailed design work):No hiring of consultants is planned for this program.
(3)Tender announcement of initial procurement package for international competitive bidding on project construction:No work in conjunction with bidding is planned for this program.

MIL OSI Asia Pacific News