2008 News Archive - Holidays - Maldives gets $12.5m protection for its reefs
18 06 2008
The popular holiday destination of Maldives has been loaned $12.5 million (£6 million) by the World Bank in order to help it protect its valuable coral reefs from further damage by waste disposal.
According to the World Bank, the funds will be used to "effectively manage environmental risks" to not only the coral reefs but also other marine habitats that have come about as a result of solid waste disposal and global climate change.
Richard Damania, senior environmental economist and task leader for the project noted that the Maldives face a "daunting" environmental risk.
"The country's coral reefs which protect it from storm surges and serve as the main asset of the tourism-driven economy are in danger of being damaged or destroyed from poorly handled waste disposal methods," he commented.
However, the project will look at ways in which to counter the risks by means of strengthening incentives for improved environmental administration.
Solid waste management facilities will also be established on certain islands alongside a communication campaign aimed at developing environmental awareness.