Asian Development Bank has confirmed USD 50 million in grants towards waste management in the greater Male’ region.
ADB officials confirmed grant assistance to Maldives at meeting held this morning by Minister Ahmed Munawar on the sidelines of the 50th Annual Meeting of the Board of Governors of ADB. At separate meetings held in Yokohama, Japan, Minister Munawar met with the President of ADB, Takehito Nakao, the Vice President for South Asia, Central Asia and West Asia Departments, Wencai Zhang, and the Director General, Hun Kim.
Minister Munawar briefed ADB officials on the economic transformation vision of President Abdulla Yameen Abdul Gayoom, and reaffirmed the commitment of the Maldives to working closely with ADB in fostering economic growth in the Maldives. He elaborated on the plans for the development of the Youth City in Hulhumale’. Thanking ADB for their long-standing affiliation with the Maldives, the Finance Minister emphasized the result-oriented fiscal and monetary policies of the current administration, as well as the boost in foreign direct investment towards large-scale projects in the Maldives.
ADB President Nakao recognized the strong collaboration between the Maldives and ADB and assured Minister Munawar of ADB’s continued support towards the Maldives. Highlighting the importance of strong macroeconomic policies, he also noted that sustained political stability was critical to ensuring continued growth in service industries such as tourism. He also assured Minister Munawar that ADB would explore all available avenues to support key development projects in the Maldives, including through grant and loan financing.
Minister Munawar is in Yokohama, Japan to attend the 50th Annual Meeting of the Board of Governors of the Asian Development Bank, themed “Building Together in Prosperity of Asia”. The Minister is also scheduled to visit senior officials of the Japanese government, during his 4-day visit to Japan.