Finance Minister Moosa Zameer highlighted that the financing from this collaboration will support projects focused on environmental protection, economic development in islands, and address climate-related challenges.
The government has signed an agreement with The Nature Conservancy (TNC) to bolster economic and environmental sustainability amidst growing climate change impacts.
The agreement was signed by Environment Minister Thoriq Ibrahim and TNC’s Global Director Melissa Garvey during COP29 in Baku, Azerbaijan.
The agreement aims to unlock financing mechanisms for climate-related challenges, such as carbon financing and conservation trust funds.
Finance Minister Moosa Zameer highlighted that the financing from this collaboration will support projects focused on environmental protection, economic development in islands, and address climate-related challenges.
This funding is also expected to contribute to the Maldives' medium-term financial stability, as it grapples with rising debt, which is projected to reach MVR 150 billion next year.
Maldives faces significant debt obligations, including USD 100 million in 2025 and USD 1 billion by 2026.
TNC, established in 1951, has a history of advancing environmental projects and has assisted countries with debt reduction through green financing solutions.
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