Asian Development Bank (ADB) has decided to donate USD 33 million to fund for projects to protect the environment of Maldives. The aim of the donation is to run environment friendly projects such as recycling waste from Greater Male' region and from islands surrounding the capital city.
Maldives lack resources to conduct the projects and the donation will assist to obtain resources and machinery necessary to sustain the projects, according to ADB. Moreover, the bank noted Maldives is a rapidly developing country in the tourism sector, which will be at a great risk if the waste management problem is not solved.
With the donation, Maldives can establish transportation and the machinery necessary for the waste management project which will benefit over 16,000 people living in Male' city. The project will cost USD 40 million and will be commenced with technical and financial support from ADB.
Moreover, the government of Japan has also decided to contribute USD 2 million to begin the project. Maldives will contribute the remaining USD 4.93 million needed for the project which is scheduled to be completed by 2023.