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

Countries
  • Maldives
Geographic location 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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 1, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Maldives
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 38.42 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Campaign Documents
Other Related Projects
Primary Source

Original disclosure @ AIIB website

Updated in EWS May 10, 2023

Disclosed by Bank Sep 27, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed 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
Here you can find a list of individual development financial institutions that finance the project.

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
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

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

 

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM).  The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint.  Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply.  You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html.

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html.




 

How it works

How it works