World Bank Provides $16.5 Million to Maldives

Thursday 7th of May 2020

World Bank Provides $16.5 Million to Maldives

The Government of the Maldives and the World Bank signed a $16.5 million project to improve the island nation’s disaster preparedness by modernizing urban infrastructure. The agreement was virtually signed last week by Minister of Finance Ibrahim Ameer and the World Bank Country Director for Maldives, Nepal and Sri Lanka, Idah Pswarayi-Riddihough.

Apart from the renewal of the obsolete stormwater drainage system in the capital Male’, the project will also fund a sewage treatment plant on the island of Hulhumalé. It will also help the Maldives better manage the impact of climate change risks by strengthening emergency preparedness, including the provision of modern early warning systems engaging citizens.

The project will be implemented by the Ministry of National Planning and Infrastructure with support from NDMA, City Councils of Male and Addu, HDC and MWSC. The total project cost is $16.5 million, including an $8.25 million grant and an $8.25 million credit from the International Development Association.