Asian Development Bank (ADB) has agreed to fund USD50 million to establish efficient waste management and disposal systems in various islands of the Maldives, government revealed Thursday.
Attending ADB’s annual meeting in Japan, Finance minister Ahmed Munavar had held discussions, Thursday, with board governors and officials of ADB. Minister revealed that ADB agreed to fund USD50 million in aid of the major waste management project.
The government had earlier announced that the major project to solve the country’s waste management crisis cost a total of USD 100 million. Funding 50 percent of the project, ADB is also fixed on financially assisting all upcoming projects in the Maldives over the next three years.
The minister also met with president, vice president and director general of ADB during his sojourn in Japan.
Minister Munawar had also requested major banks for assistance in establishing waste management and disposal systems in various islands of the Maldives.
