Maldives: Greater Malé Environmental Improvement and Waste Management Project (AIIB-000278)

Countries
  • Maldives
Where the impacts of the investment may be experienced.
Specific Location
Greater Malé, Thilafushi Island, Hulhulmale
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 1, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Maldives
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • Water and Sanitation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 38.42 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 129.47 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Oct 29, 2019

Disclosed by Bank Sep 27, 2019


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Project Description

According to bank documents, "The main objective of the project is to establish an integrated solid waste management system in Greater Malé.

The proposed project has the following components:
• Component 1 - Establishment of climate resilient regional waste management facility, including: (a) construction of a 500-ton per day (tpd) Waste-to-Energy (WTE) plant with flue gas treatment, emissions monitoring, bottom ash processing plant, and ash disposal landfill with leachate treatment ponds; (b) construction of a sorting facility to support recycling; and (c) construction of a transfer station in Hulhulmalé.
• Component 2 - Remediation and closure of existing dumpsite on Thilafushi Island.
• Component 3 - Building institutional capacity and community awareness in sustainable waste management."

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

Tentative Co-financing:
- AIIB loan: USD38.42 million
- ADB loan: USD30 million
- ADB grant: USD30 million
- Japan Fund for the Joint Crediting Mechanism (JFJCM) grant: USD9.5 million
- Islamic Development Bank: USD15.05 million
- Government: USD6.5 million

Contact Information

AIIB
Toshiaki Keicho, Sr. Investment Operations Specialist
toshiaki.keicho@aiib.org

ADB

Luca Di Mario, Urban Development Specialist
ldimario@adb.org

Ministry of Environment and Energy

Ahmed Murthaza, Director General
ahmed.murthaza@environment.gov.mv