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The Edition Fathmath Shaahunaz 13 December 2020, MVT 13:44 Aerial view of solar panels on the roof of a building. The World Bank has approved a new project worth USD 107.4 million to help accelerate the transition of Maldives to renewable energy. Fathmath Shaahunaz 13 December 2020, MVT 13:44 The World Bank Group’s Board of Executive Directors on Friday approved a USD 107.4 million project to help Maldives transition to renewable energy and support sustainable recovery. According to the Group, the new project titled Accelerating Renewable Energy Integration and Sustainable Energy (ARISE) will build on the Accelerating Sustainable Private Investments in Renewable Energy (ASPIRE) , an existing initiative funded by the organisation to bring in private investors to increase the country s renewable energy capacity.

Addu atollSouth provinceWorld bank countryWorld bank groupMinistry of environmentWorld bankClean technology fundMultilateral investment guarantee agencySustainable private investments in renewable energyInternational development associationSustainable energyAsian infrastructure investment bankInternational finance corporationRenewable energy integrationExecutive directorsAccelerating renewable energy integration