HSBC funds MWSC for the 20 islands development project

Hongkong Shanghai Banking Corporation (HSBC) has extended a loan to Male’ Water & Sewerage Company Ltd (MWSC).

The MVR 154 million facility arranged by HSBC Maldives will be used to finance part of a project awarded by the Ministry of National Planning and Infrastructure to provide construction and engineering services required for the provision of water and sewerage facilities to 20 islands across the Maldives. This is part of the government’s objective to facilitate access to pipe water supply and pipe sewerage services to all 187 inner islands by 2023. 

HSBC's County Manager, Dilshan Perera said while the project carries national importance benefitting a significant portion of the Maldivian community, the Bank is proud to collaborate with MWSC to bring this project to fruition. He said that HSBC has been supporting the country in various forms in the past 19 years, most recently acting as joint lead arrangers and managers to raise USD 500 million for the Government of Maldives.