President Muizzu raises concern over exclusion of projects like Ras Male' from climate financing

President Dr Mohamed Muizzu has said that although Ras Male', the first eco-city being developed in the Indian Ocean territory with climate change in mind, is not eligible for climate funding as it is classified as an infrastructure project.

In an opinion piece for "The Guardian" President Muizzu said that Malé, which is the capital of Maldives, is approximately twice the size of New York’s Central Park and is one of the most densely populated capitals in the world.

This is the reason for the construction of Hulhumale', raised two meters above sea level, with many inherent features of climate resilience, such as buffer zones placed between the island and the reef, designed to protect the coast from severe waves, he said.

President Muizzu said that Ras Male' is being developed for the same purpose, raised three meters above sea level.

"Ras Malé, aims to be the Indian Ocean’s first eco city. This is true climate adaptation if ever I saw it," he said.

President Muizzu said that such projects should be carried out in a sustainable manner and must coexist with environmental stewardship.

Therefore, work on crucial development projects has been paused due to severe coral bleaching brought on by global warming, he added.

"Yet because projects like Ras Malé are classed as infrastructure work in the eyes of some climate financiers and multilateral banks, climate funding for such projects – running from the millions to billions of dollars – is not forthcoming."

President Muizzu emphasized that the international community must understand that small island nations rely on external funding to prepare for and recover from the climate crisis.

The President noted that with adequate international funding, projects that connect and raise islands by bridges or causeways, along with expanded urbanization, will enhance access to essential services like education and health and help create climate-resilient communities.

At the UN's upcoming fourth International Conference on SIDS, Maldives will be calling for the global adoption of a multidimensional vulnerability index (MVI).

MVI is a vital tool that can help small islands access the resources urgently needed. If it is adopted, the criteria used to decide how projects are funded can be rethought, President Muizzu said.