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IFC to Help Maldives Improve Waste-Management Infrastructure
In New Delhi:
Minakshi Seth
Phone: +91 11 4111 1000
E-mail: mseth@ifc.org
In Washington, D.C.:
Shirley Geer
Phone: +1 703 346 0914
E-mail: sgeer@ifc.org
Malé, Maldives, September 1, 2009—IFC,
a member of the World Bank Group, will work with the government of Maldives
to modernize the country’s solid-waste-management system to improve public
health, limit environmental pollution, and help protect fragile coral reefs
and marine habitats.
The Maldives government and state owned Waste
Management Corporation have sought IFC’s advice to explore private participation
in running existing waste-management sites and developing an integrated
regional waste-management plan including waste collection, transportation,
and disposal for seven provinces. Currently, only the capital city of Malé
has solid-waste-management infrastructure in place; waste collection and
disposal are managed by local municipalities.
“Private participation is expected to bring
significant efficiencies to our existing waste-management services and
extend these beyond the capital city to smaller and remote atolls,” said
Mahmood Razee, Chairman of Maldives’
Privatization Committee. “By partnering
with IFC, we will be able to attract quality private participation and
ensure a transparent and competitive process.”
Solid and hazardous waste management is a
critical environmental issue and a threat to tourism and fishing industries.
Disposal sites are located along vegetation lines or shorelines in many
islands. There are limited provisions for collection, treatment, and disposal
of hazardous wastes. The country’s National Solid Waste Management Policy
adopted in 2008, highlighted the importance of developing public-private-partnership
frameworks and encouraging strong, long-term private participation.
Vipul Bhagat, head of IFC Infrastructure
Advisory for South Asia, said: “Through this project, IFC hopes to assist
Maldives implementing systematic waste-disposal mechanisms that will help
the country curb methane emissions from open dump sites and address public
health concerns from inappropriate waste-management practices.”
IFC has global experience in advising
on transactions in addition to investments in the solid waste management
sector. IFC’s recent work includes similar projects in Belgrade in Serbia,
Durban in South Africa, and Andhra Pradesh in India. The
goal is to make better use of scarce resources and upgrade the quality
of services.
To learn more about IFC’s activities in
South Asia, visit www.ifc.org/southasia.
About IFC
IFC, a member of the World Bank Group, creates
opportunity for people to escape poverty and improve their lives. We foster
sustainable economic growth in developing countries by supporting private
sector development, mobilizing private capital, and providing advisory
and risk mitigation services to businesses and governments. Our new investments
totaled $15 billion in fiscal 2009, helping channel capital into developing
countries during the financial crisis. For more information, visit www.ifc.org.
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