HSBC grants MVR 154 million to MWSC for developmental projects

Groundbreaking ceremony to commence water and sewerage project in Baa Maalhos. (Photo/MWSC)

HSBC Maldives announced their decision to grant Maldives Water and Sewerage Company (MWSC) MVR 154 million (USD 10 million) to fund developmental projects in 20 islands. 

According to HSBC, the funds will be utilised to finance part of a project awarded to MWSC by the Ministry of National Planning and Infrastructure, to provide construction and engineering services required for the provision of water and sewerage facilities to 20 islands across the Maldives. 

The project is part of the administration’s goal to facilitate access to pipe water supply and pipe sewerage services to all 187 inner islands by 2023.

Speaking about the project, the County Manager of HSBC Maldives Dilshan Perera expressed that they were extremely proud of the collaboration to bring a project of such national importance and one that benefits a significant portion of the local community, to fruition. 

He went on to state that, "HSBC has been supporting the country in various forms in the past 19 years, most recently acting as joint lead arrangers and managers to raise USD 500 million for the Government of Maldives."