Maldives is an archipelago of 26 low-lying coral atolls in the Indian Ocean, southwest of the Indian subcontinent. The country consists of just under 1,192 small tropical islands, out of which about 358 are used for economic activities and human settlement. One of the lowest countries in the world, it is greatly threatened by sea-level rises, coastal storm surges, and associated flooding. In recent years, many inhabited islands in the Maldives have experienced severe weather events, such as strong winds, flooding, rough seas, and storm surges, which have resulted in severe beach erosion hazards and coastal infrastructure damage.
Investing in the Maldives
CIF’s investments in the Madives are through its Clean Technology Fund and Scaling up Renewable Energy Program (SREP).
Maldive's $26 million SREP investment plan is supporting efforts to create an enabling environment for the growth of a reliable and sustainable energy sector and meet the constitutional obligation of the government in the provision of electricity to every inhabited island.
By diversifying energy supplies with low-carbon technologies like solar PV, Maldives can reduce over-reliance on fossil fuels, improve energy efficiency, and exploit local energy resources. Projects are also engaging the private sector in the development of the energy sector, energy services, and quality assurance mechanisms.
Through the CIF-TAF, $850,000 was programmed for technical assistance activities in 2020 and 2021. The efforts spanned scaling up renewable energy and facilitation of climate resilient recovery in the aftermath of Covid-19.
