ADB President Nakao arrives in Maldives

ADB President Nakao arrives in Maldives

The president of Asian Development Bank (ADB), Takehiko Nakao, arrived in Maldives on Monday, marking his first visit to the archipelago.

Nakao is scheduled to meet with President Ibrahim Mohamed Solih, Speaker of Parliament and former President Mohamed Nasheed, Minister of Finance Ibrahim Ameer, and other government officials during his visit.

The president of ADB will also observe the waste management project at landfill island Thilafushi, and the second phase of development of reclaimed suburb Hulhumale'.

ADB has on several occasions extended financial assistance for development projects in Maldives. The bank granted USD 11 million (MVR 169 million) earlier this year to finance the procurement of a high-tech system to increase efficiency in cargo clearing.

The bank is set to grant a total of USD 31 million to the Maldivian government throughout 2019 and 2020.