Beijing, China, September 11, 2020

Waste-to-Energy Project in Maldives Gets AIIB Support

As an island state, the Maldives does not have a lot of land to waste. Eighty percent of its total land area is distributed among 1,200 coral islands, of which only 188 are inhabited, many are remote, and nearly all are physically vulnerable to rising sea levels.

The Maldives created the artificial island of Thilafushi some 30 years ago to serve as a dumpsite for the waste generated in the Greater Malé capital region. As the Maldives’ economy is based mainly on tourism and fisheries, both of which rely heavily on a pristine environment, a more sustainable solution to the garbage problem had to be found.

In response, the Government of Maldives, with support from the Asian Infrastructure Investment Bank (AIIB) and other multilateral development banks, is putting up a sustainable regional solid waste treatment system in the Greater Malé region. It has the goal of ensuring the safe disposal or recycling of waste, reducing the greenhouse gas emissions of the island state, and generating electricity from waste-to-energy. The facility is intended to handle 500 tons of waste per day and convert it to electricity, which is eventually expected to generate eight megawatts (MW) of surplus electricity by the end of 2024.

AIIB has approved a USD40-million loan for the Greater Malé Waste-to-Energy Project, which is being co-financed by the Asian Development Bank (ADB) and the Japan Fund for the Joint Crediting Mechanism.

“The Greater Malé Waste-to-Energy project will benefit the people in the Greater Malé region, as well as have a wider global impact by reducing greenhouse gas emissions and mitigating the impacts of climate change. AIIB welcomes the opportunity to partner with the Government of Maldives and other partners to create a more sustainable waste management system,” said AIIB Vice President, Investment Operations, D.J. Pandian.

This is the second AIIB loan to the Maldives, the first being a loan under AIIB’s COVID-19 Crisis Recovery Facility to help the country with its Emergency Response and Health Systems Preparedness Project against COVID-19.

Because the country is at great risk of rising sea levels due to climate change, as well as natural disasters like tsunamis and extreme climate events, the project design incorporates disaster-and climate-resilient features such as raised floor elevations, and flood-proof mechanical and electrical equipment. The cost estimates and implementation schedule also accommodate possible delays or cost increases due to the impact of COVID-19 on supply chains.

The project includes a capacity building component to help government officials manage the project and conduct environmental monitoring. In addition, targeted public awareness campaigns in the main population centers of Malé, Hulhumale, and Villimale will be provided to raise awareness of the new waste collection and waste management system, and 3R (Reduce, Reuse, and Recycle) behaviors to support a clean environment.

 

About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, we began operations in January 2016 and have now grown to 103 approved members worldwide. By investing in sustainable infrastructure and other productive sectors in Asia and beyond, we will better connect people, services and markets that over time will impact the lives of billions and build a better future.

Logos for Download

AIIB logo is available in JPEG and PDF format.

DOWNLOAD

Media Contact

Lingxiao He

Press Officer

+86 10 8358 0683

SEND AN EMAIL
More News Articles

Beijing, July 31, 2025

AIIB Approves First Investment in Chile to Support Climate-Resilient Water Infrastructure

The Asian Infrastructure Investment Bank (AIIB) approved a USD10-million equity co-investment alongside Patria Infrastructure Fund V to support the development of the Aguas Pacifico project (Project Aqua). This marks AIIB’s first investment in Chile and aligns with AIIB’s strategy to finance climate mitigation efforts in nonregional Members, particularly those addressing critical water scarcity.

READ MORE

Beijing, July 24, 2025

AIIB and BTG Pactual Sign USD160-Million Facility to Expand Climate Infrastructure in Brazil

The Asian Infrastructure Investment Bank (AIIB) and BTG Pactual have signed a seven-year, USD160-million on-lending facility to enable BTG Pactual to finance climate-aligned infrastructure in Brazil. It marks AIIB’s largest private-sector transaction in Brazil to date and its first collaboration with BTG Pactual, Latin America’s largest investment bank.

READ MORE

Beijing, July 16, 2025

AIIB Extends USD100 Million Facility to VPBank to Drive Climate Finance and Infrastructure Growth in Viet Nam

The Asian Infrastructure Investment Bank (AIIB) and Viet Nam Prosperity Joint Stock Commercial Bank (VPBank) have signed a USD100-million on-lending facility to promote sustainable infrastructure development and support climate mitigation efforts in Viet Nam.

READ MORE

Beijing, July 16, 2025

AIIB, National Bank for Financing Infrastructure and Development Sign Letter of Intent to Accelerate Climate Financing, Sustainable Infrastructure Projects in India

The Asian Infrastructure Investment Bank (AIIB) and the National Bank for Financing Infrastructure and Development (NaBFID) signed a letter of intent to foster joint efforts to develop sustainable infrastructure in India, with a strong emphasis on climate adaptation and mitigation. The agreement marks a strategic step toward accelerating sustainable infrastructure development in India.

READ MORE