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World Bank donates USD17 mln for waste management in Maldives

Finance Minister Ahmed Munawar and World Bank Country Director for Sri Lanka and the Maldives, Idah Pswarayi-Riddihough, exchange the agreement on World Bank's donation of USD 17.5 million to the Maldivian government for waste management.

Finance Minister Ahmed Munawar and World Bank Country Director for Sri Lanka and the Maldives, Idah Pswarayi-Riddihough, exchange the agreement on World Bank’s donation of USD 17.5 million to the Maldivian government for waste management.

The World Bank Group has granted USD 17.5 million (MVR 269 million) as free aid to the Maldives for waste management.

World Bank’s Board of Directors made the decision last June and the aid was provided to the “Maldives Clean Environment” project which is financed by World Bank Group’s International Development Association. The aid is to be used for the disposal and management of waste via environment-friendly procedures.

In a press release, Ministry of Finance and Infrastructure stated that the agreement was signed by Finance Minister Ahmed Munawar and World Bank’s Country Director for Sri Lanka and the Maldives, Idah Pswarayi-Riddihough.

Minister of Environment and Energy, Thoriq Ibrahim also attended the signing ceremony.

The donation will be used to finance the establishment of waste management centres in the atolls of Meemu, Faafu, Dhaalu, Thaa and Laamu. The Finance Ministry added that a regional waste management centre will also be developed in the atolls’ waste management zone.

In the statement World Bank released previously to announce the decision to grant free aid to the archipelago, the group highlighted that 365,000 tonnes of waste are produced annually in the Maldives, with people in the capital producing 1.8 kilograms and people in atoll islands producing 0.8 kilograms of waste daily. Meanwhile, people in resort islands produce 3.5 kilograms of waste per day, according to World Bank.

Related:   Bank of Maldives to host major Asian banking conference in 2018

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Source URL: Mihaaru-News

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