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AIIB backs waste-to-energy project in the Maldives
Investors - SEPTEMBER 15, 2020

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AIIB backs waste-to-energy project in the Maldives

by Kali Persall

The Asian Infrastructure Investment Bank (AIIB) and other multilateral development banks have partnered with the Government of Maldives to build a sustainable regional solid waste treatment facility in the Greater Malé region.

The facility is intended to handle 500 tons of waste per day and convert it to electricity, which is eventually expected to generate 8 megawatts of surplus electricity by the end of 2024.

According to a statement from AIIB, the Maldives created an artificial island around 30 years ago to serve as a dumpsite for waste generated in the Greater Malé capital region. A more sustainable solution to the garbage issue was needed, however, and the concept of the new facility was born.

AIIB has approved a $40 million loan for the Greater Malé Waste-to-Energy Project, which is being co-financed by the Asian Development Bank and the Japan Fund for the Joint Crediting Mechanism. This marks the second AIIB loan to the Maldives.

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