ADB to provide USD 120m for development projects
ADB President said the company will be providing a further USD 10 million for renewable energy in the outer islands
ADB President Takehiko Nakao at the press conference with finance minister Ahmed Ameer
Asian Development Bank (ADB) President Takehiko Nakao has said that the company will provide a total of USD 120 million in assistance for three development projects.
The ADB President said this at a press conference at the President’s Office on Monday.
Speaking at the conference, ADB President Nakao said the company will, in the next few years, be providing a further USD 10 million for renewable energy in the outer islands and an additional USD 60 million for a waste-to-energy project, adding that they are also considering providing USD 50 million for a power plant project.
He said that ADB has already provided USD 35 million for waste management projects, and USD 10 million for a national single window project to promote trade facilitation.
Nakao also commended Maldives for its long track record for growth with a low inflation rate and for its rich source of tourism.
He said he has met with finance minister Ahmed Ameer, speaker Mohamed Nasheed, and President Ibrahim Mohamed Solih and discussed how Maldives can take advantage of tourism for the benefit of the country in terms of increasing job creation, income, and GDP, as well as prevent damage to the communities and the environment. He added that they had also discussed sustainable fishing and climate change.
Also at the press conference, finance minister Ameer said ADB is helping the Maldives government with its national development plan and that they anticipate the final draft to be completed by September.
