IDA CREDIT: $1.3 million (additional financing)
TERMS: Grace period = 10 years; Maturity = 40 years
PROJECT DESCRIPTION: The additional credit of $1.3 million will help meet the financing gap created by a partial cancellation of the Third Education and Training Project credit to meet the emergency needs of the post-tsunami reconstruction in the Maldives. It will finance the payment of overdue scholarship obligations and upcoming fee payments for 186 students supported by the project to undergo overseas training as part of the project’s capacity building strategy.
