US$165m ‘secured’ for Greater Malé waste management
Finance Minister Ahmed Munawar secured US$165 million as financing from various multilateral donors during the annual meeting of the Asian Development Bank’s board of governors last week.
07 May 2018, 9:00 AM
Various multilateral donors have pledged funds for a massive waste management project in the Greater Malé region, the finance ministry announced Sunday night.
Finance Minister Ahmed Munawar secured US$165 million as financing – including “10-13 percent as government contribution” – during meetings held at the sidelines of the annual meeting of the Asian Development Bank’s board of governors last week.
The waste management project “aims to provide an eco-friendly solution to waste disposal in the [capital] region,” which houses nearly 40 percent of the country’s population.
The co-financiers include the Chinese-led Asian Infrastructure Development Bank, Islamic Development Bank and the Japan Fund for the Joint Crediting Mechanism.
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