The Edition


USD165 mln as aid for Maldives waste management project

Nafaahath Ibrahim
08 May 2018, MVT 11:16
Finance Minister meeting with ADB officials. PHOTO/FINANCE MINISTRY
Nafaahath Ibrahim
08 May 2018, MVT 11:16

The Ministry of Finance and Treasury revealed on Sunday that USD 165 million has been received as aid for the Maldivian government’s Greater Male Environmental Improvement and Waste Management Project.

The aid was gifted during the ongoing 51st board meeting of Asian Development Bank (ADB)’s governors, stated the finance ministry.

During this gathering, finance minister and the Maldives’ governor to ADB, Ahmed Munawar, advocated to finance the project. He held discussions with senior officials of ADB, Islamic Development Bank (IDB) and Asian Infrastructure Investment Bank (AIIB).

The project, with up to 10 percent and 13 percent financing from the government, will establish a long term waste management system in capital Male, and the islands and resorts of Kaafu Atoll, Alif Alif Atoll, Alif Dhaal Atoll and Vaavu Atoll.

During the first phase of the project, which is managed by the Ministry of Environment and Energy and Waste Management Corporation (WAMCO), steps will be taken to stop waste burning in the landfill island of Thilafushi. In the second phase, a technological system will be established in Thilafushi to manage waste and generate energy.

The finance ministry stated that the first phase will commence in July and, by the end of the year, waste burning in Thilafushi will stop entirely. The second phase is scheduled to start in early 2019.