Asian Development Bank confirms US$ 50 million grant assistance towards waste management in the Greater Male’ Region.

At meetings held this morning by His Excellency Ahmed Munawar, Minister of Finance and Treasury, on the sidelines of the 50^th Annual Meeting of the Board of Governors of ADB, senior ADB officials had confirmed a Fifty Million US Dollar grant assistance towards waste management projects in the Greater Male’ Region.

At separate meetings held in Yokohama, Japan, Minister Munawar met with the President of ADB, His Excellency Takehito Nakao, the Vice President for South Asia, Central Asia and West Asia Departments, His Excellency Wencai Zhang, and the Director General, Mr. Hun Kim.

Minister Munawar briefed ADB officials on the economic transformation vision of President Abdulla Yameen Abdul Gayoom, and reaffirmed the commitment of the Maldives to working closely with ADB in fostering economic growth in the Maldives. He elaborated on the plans for the development of the Youth City in Hulhumale’. Thanking ADB for their long-standing affiliation with the Maldives, the Finance Minister emphasized the result-oriented fiscal and monetary policies of the current administration, as well as the boost in foreign direct investment towards large-scale projects in the Maldives.

ADB President Nakao recognized the strong collaboration between the Maldives and ADB and assured Mninister Munawar of ADB’s continued support towards the Maldives. Highlighting the importance of strong macroeconomic policies, he also noted that sustained political stability was critical to ensuring continued growth in service industries such as tourism. He also assured Minister Munawar that ADB would explore all available avenues to support key development projects in the Maldives, including through grant and loan financing. 

Minister Munawar was joined by the Ambassador of Maldives to Japan, His Excellency Mohamed Hussain Shareef, Alternate Governor at the Ministry of Finance and Treasury, Mr. Abdulla Ali, Consultant at the Finance Ministry, Ms Maryam Rashfa, First Secretary at the Maldives Embassy in Japan, Mr. Adam Hamid and Second Secretary Ms Aminath Shazly Saleem.

Minister Munawar is in Yokohama, Japan to attend the 50^th Annual Meeting of the Board of Governors of the Asian Development Bank, themed “Building Together in Prosperity of Asia”. He is joined at the historic 50^th Annual Meeting by finance and development ministers, central bank governors, other senior government officials, business executives, journalists, academics, and representatives from civil society, development organizations, and youth from across the Asia and Pacific regions. The Minister of Finance and Treasury is also scheduled to visit senior officials of the Japanese government, during his 4-day visit to Japan.