ANNOUNCEMENT 14 Mar 2018

On 14 March 2018, the Export-Import Bank of Thailand (EXIM Thailand) announced the provision of a financing loan for a tourism project in the Maldives.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Export-Import Bank of Thailand, EXIM Thailand Supports Singha Estate Plc. to Develop Maldives’ First Integrated Tourism Megaproject, 14 March 2018. Available at: http://www.exim.go.th/doc/adn/6100007210_0.pdf

Inception date: 14 Mar 2018 | Removal date: open ended

Financial assistance in foreign market

On 14 March 2018, the Export-Import Bank of Thailand (EXIM Thailand) announced the provision of a financing loan for a tourism megaproject in the Maldives.

Under the terms of the loan, EXIM Thailand will provide a loan of USD 120 million to Singha Estate Plc. to finance the development of an integrated tourism complex and resort in the Maldives under Singha Estate's CROSSROADS megaproject. Three resorts will be developed in the first phase.

In this context, EXIM Thailand mentioned that "By combining tourism promotion with economic development, the project helps enhance trade, investment and services in response to the expansion of tourism, convention activities and local township, bringing about economic progress and sustainable development in the region."

The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.

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