China Eximbank provides 41 million MVR loan for Garbage Disposal Efficiency Project

Project narrative

On November 21, 2006, the Export-Import Bank of China and the Government of Maldives signed an loan agreement, worth approximately 41 million MVR, to improve the efficiency of garbage disposal in the Maldives, according to BBC Monitoring Asia Pacific. According to the United Nations Development Programme, the loan was a "soft loan," and the proceeds from it were to be used to purchase waste management equipment to support waste management on island, atoll and, regional levels. The final disbursement through this loan agreement took place on December 31, 2010, according to the Maldives' Government Budget Report, 2009. Annual Disbursements: - 2009: 18.2 million MVR (MTEF Estimate, Maldives' Government Budget Report 2009) - 2010: 22.8 million MVR (MTEF Estimate, Maldives' Government Budget Report 2009)