Bank of Maldives (BML) has launched a project to fund sustainable waste management in the Maldives.

In a press release, the country’s national bank announced the launching of its Waste Management Grant project.

The Waste Management Grant project is a strategic initiative to support the improvement of waste management practices across the island nation.

BML stated that the project carries the purpose of promoting a more sustainable environment for communities nationwide.

Further, it will provide access to funding to purchase equipment for waste management facilities.

Speaking on the launching of the initiative, the bank’s Deputy CEO and In-charge Aishath Noordeen stated that the grant mirrors the bank’s commitment to support environmental sustainability, a core strategy of being a responsible business.

She expressed keenness to partner with local organizations through the grant to not only implement waste management solutions but also upgrade existing systems, ensuring a cleaner, greener future for the Maldives.

The country’s national bank remains committed to drive sustainable development and support initiatives that enhance the quality of life for all Maldivians.

Local Non-Governmental Organizations (NGOs) and Community-Based Organizations (CBOs) can apply for the Waste Management Grant. Individuals, government agencies, business entities and other institutions that are funded by the government are not eligible for the grant.

Applications are required to be submitted viaemailbefore 4pm, October 21.

BML revealed that project proposals will be evaluated by panelists whose decisions will be final. The project applications will be evaluated based on criteria such as proposed methods or equipment, sustainability, community benefits, available infrastructure and resources as well as the project timeline.