The Maldives is an upper middle-income island (UMIC) state located in the Indian Ocean with 400,000 inhabitants. Its economy is primarily based on tourism, fisheries and the construction sector. The country is highly vulnerable to climate change.
In addition to climate change, main development challenges include the promotion of sustainable growth and jobs (notably for young people), economic diversification, the rule of law, human rights, gender, civil society, tax cooperation, anti-money laundering, public finance management and debt management, oceans governance, maritime security and the prevention of violent extremism.
EU development cooperation focuses on
- local governance through support to local authorities and civil society (€0.5 million)
- climate change adaptation (€10.5 million). In 2019, the EU will launch a €5 million project (less fossil fuels, more renewable energy and implementing its Nationally Determined Contributions (NDCs) commitments).
Since 2002 the EU has been providing assistance for post-tsunami reconstruction, electoral process, fight against drug abuse, trade related assistance, climate change adaptation and mitigation, waste management, fighting corruption, support to local authorities, and support to civil aviation.
EU development assistance combined with political dialogue helped the country to:
- improve its capacity to deal with climate change
- increase the use of renewable energy
- strengthen civil society, strengthen its capacity to manage public investment and
- improve electoral processes in the country.
- Support to climate change adaptation and mitigation in the Maldives (CCTF)
- Support to implement the Nationally Determined Contributions (NDCs) related to greenhouse gas emissions (project in preparation). The objective is to reduce Maldives’ dependency on fossil fuels and foster the use of renewable energy).
- EU support to the IMF South Asia Regional Training and Technical Assistance Centre (SARTTAC). The project objective is to support Public Finance and debt management.
Peace, stability, rule of law
- Support to preventing violent extremism (under preparation)
- Support to combating corruption and strengthening anti-corruption institutions.
- Support to local authorities and CSOs. The project objective is to strengthen local governance.
Due to its status as an an upper middle-income island (UMIC), there is no EU Multi-annual Indicative Programme for the Maldives.