Ministry of Environment has launched the National Strategic Framework to Mobilise International Climate Finance in Maldives.
The framework was launched by Minister of Environment Dr. Hussain Rasheed Hassan in a special function held at Hotel Jen. The framework was formulated under a project launched under the Green Climate Fund (GCF). The environment ministry began formulating the framework in February 2019.
Speaking at the function, Environment Minister Dr. Hussain Rasheed Hassan said the framework is part of the efforts to maximise international assistance for the environmental problems faced by the country. He noted 35% of the environmental protection projects in Maldives are funded by the state budget, while 65% of the projects are conducted with assistance from various international organisations.
The climate finance framework includes 31 project concepts worth USD 438 million. The projects have been planned for the next five years, with funds to be sought from GCF. The projects are related to fields such as shore protection, biodiversity, fisheries, agriculture, renewable energy and transport.
The environment ministry says the projects will help to achieve the goals of the Strategic Action Plan which is followed by the administration. As such, the ministry noted the projects will help to achieve the objectives under island lifestyle and blue economy.