The Edition


Gov signs USD 33.07 mln agreement with Asian Development Bank

Nafaahath Ibrahim
16 August 2018, MVT 23:16
Nafaahath Ibrahim
16 August 2018, MVT 23:16

The government signed a USD 33.07 million agreement with the Asian Development Bank (ADB) to establish an innovative waste management system in the greater Male area on Thursday.

A special signing ceremony was held at Ministry of Finance and Treasury.

While Finance Minister Ahmed Munawwar signed on behalf of the government, Ronald Antonio, Regional Cooperation, and Operations Coordination Director signed on behalf of ABD.

Speaking at the function, Minister Munawwar stated that the agreement includes an additional USD 2 million from the Japan Fund for Poverty Reduction.

Dates for the beginning of the first phase for the Waste Management Project are yet to be announced by the government.

The Minister also revealed that this project is worth USD 160 million, adding that the USD 125 million required for the second phase has already been arranged by a financial institute similar to ADB.

While giving information on projects that will be done under this grant, Minister of Environment and Energy Thoriq Ibrahim said that, burning of waste at Thilafushi will be stopped and that a waste management system using latest technology will be established within the greater Male area.

Additionally, under this project, a waste management area is to be established in all the islands of Vaavu Atoll and Alif Dhaal Atoll.

The entire project is planned to be completed by 2023, after which waste would be disposed in a more environmentally friendly manner.