The Government of the Maldives and the Global Centre on Adaptation (GCA) have signed a Memorandum of Understanding (MoU) to mobilise USD 200 million through climate adaptation projects in the Maldives.
The MoU was signed on the sidelines of the COP26 summit in Glasgow, Scotland. The MoU was signed by Minister of Environment, Climate Change and Technology Aminath Shauna and the CEO of GCA Prof. Dr. Patrick Verkooijen.
Under the agreement, GCA will be providing USD 200 million through multiple projects to support the adaptation priorities and support the climate leadership of the Maldives. Environment Minister Shauna stated the agreement would enhance Maldives’ access to finance for the implementation of adaptation priorities.
GCA is an international organization working as a solutions broker to accelerate action and support for adaptation solutions. GCA focuses on those who are the most vulnerable to the effects of climate change, including the poor.