Statement by His Excellency Hussain Mohamed Latheef, Vice President of the Republic of Maldives at the 4th International Conference on Financing for Development (FFD4), Maldives Side Event: Blended Finance Opportunities for Marine Biodiversity, Seville, Spain

Vice President Hussain Mohamed Latheef delivered a statement at a side event on blended finance opportunities for marine biodiversity at FfD4. He highlighted that the Maldives' tourism sector brings in over 20% of GDP, largely due to marine biodiversity. Climate change causes mass coral bleaching. The Maldives is guardian of 3.14% of the world's coral reefs. SDG14 is the least funded SDG. The Maldives is launching two initiatives: 'Coral Reef Insurance' to protect biodiversity and create financial safety nets, and a blended finance instrument to support MSMEs in the blue economy. He called for reforming development finance to reflect climate realities.

Vice President Hussain Mohamed Latheef delivered a statement at a side event on blended finance opportunities for marine biodiversity at FfD4. He highlighted that the Maldives' tourism sector brings in over 20% of GDP, largely due to marine biodiversity. Climate change causes mass coral bleaching. The Maldives is guardian of 3.14% of the world's coral reefs. SDG14 is the least funded SDG. The Maldives is launching two initiatives: 'Coral Reef Insurance' to protect biodiversity and create financial safety nets, and a blended finance instrument to support MSMEs in the blue economy. He called for reforming development finance to reflect climate realities.

Vice President Hussain Mohamed Latheef delivered a statement at a side event on blended finance opportunities for marine biodiversity at FfD4. He highlighted that the Maldives' tourism sector brings in over 20% of GDP, largely due to marine biodiversity. Climate change causes mass coral bleaching. The Maldives is guardian of 3.14% of the world's coral reefs. SDG14 is the least funded SDG. The Maldives is launching two initiatives: 'Coral Reef Insurance' to protect biodiversity and create financial safety nets, and a blended finance instrument to support MSMEs in the blue economy. He called for reforming development finance to reflect climate realities.

This story involves 1 source and may affect public understanding of marine biodiversity / blended finance.