Preparing Outer Islands for Sustainable Energy Development Project (ADB-46122-003)

Countries
  • Maldives
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
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
Sep 29, 2014
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
Ministry of Finance and Treasury
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 38.00 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)
$ 52.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Oct 2, 2017

Disclosed by Bank Mar 29, 2017


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Project Description
This project installs energy management and control systems, energy storage, and improvements in distribution networks. This includes installing equipment for solar diesel hybrid grids on about 160 islands. The project will replace inefficient diesel-based power generation grids on the islands with hybrid systems.
Investment Description
  • Asian Development Bank (ADB)
The funding for this project comes from: ADB (Grant): US$ 38.00 million Strategic Climate Fund (Grant): US$ 12.00 million Islamic Development Bank (Loan): US$ 10.00 million European Investment Bank (Loan): US$ 50.00 million Japan Fund for the Joint Crediting Mechanism (Grant): US$ 5.00 million
Contact Information
Ministry of Finance and Treasury 66032EXTRES MF/MINFIN@DHIVEHINET.NET.MV Ameenee Magu Republic of the Maldives ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main