MANILA, PHILIPPINES (November 11, 2024) — The Asian Development Bank (ADB) has approved $21.95 million in financing to strengthen the Maldives’ capacity to combat the effects of climate change and ensure the sustainability of its systems food.

The financial package includes a concessional loan of $4 million and a grant of $17.95 million from Asian Development Fundwhich provides grants to the poorest and most vulnerable developing member countries of the ADB.

“The majority of Maldives islands and atolls are less than one meter above sea level, making them highly vulnerable to climate change. Threats such as coastal erosion, sea level rise and increasing frequency of cyclones pose a major concern for the short and long term food security of the population. “Increased extreme weather events are causing disruptions in the food supply chain for this import-dependent country,” said Michiko Katagami, Senior Natural Resources and Agriculture Economist at the ADB. “This project will introduce a holistic approach to investment in adaptation, combining innovative infrastructure solutions with nature-based initiatives and urban agriculture to build sustainable resilience. »

THE Project to strengthen climate resilience and food security will strengthen the country’s resilience to disasters and climate change by upgrading early warning systems in Addu town and Male. These measures will enable the Maldives Meteorological Department to establish a real-time weather monitoring and early warning system. It will organize community training and awareness on climate change adaptation measures as well as disaster preparedness and response.

The project will help Kulhudhuffushi Island, the most populated island in the northern region, improve its flood protection and management by constructing stormwater drainage and filtration systems, restoring mangrove areas and introduce other nature-based solutions. Offshore and nearshore infrastructure such as artificial reefs, berms and groynes will be constructed for coastal protection and sand retention.

To help achieve long-term food security, the ADB will introduce climate-smart urban agricultural technologies and practices in Haa Dhaalu and Addu atolls. It will build a multi-purpose facility for the Hanimaadhoo Agricultural Center (HAC) to strengthen its training and research services. Improving training, agricultural extension and business advisory services for farmers, cooperatives, civil society organizations, women and young entrepreneurs in the agribusiness sector will support the expansion of local food supply and the creation of income and employment opportunities. The project will help these beneficiaries obtain matching grants to grow and grow their businesses.

Funding for the project will be supplemented by a $3 million grant from the Japan Fund for a Prosperous and Resilient Asia and the Pacific, funded by the Government of Japan, to support HAC operations and the promotion of new agri-food technologies and practices. Another $1 million grant from the Ocean Resilience and Coastal Adaptation Trust Fund (ORCATF) under the Ocean Resilience and Climate Adaptation Partnership Facility will fund solutions nature-based solutions for flood mitigation and coastal protection. An additional technical assistance grant of $1.5 million from the ADB Special Technical Assistance Fund and ORCATF will be provided for capacity building and research.

The ADB is committed to achieving a prosperous, inclusive, resilient and sustainable Asia and the Pacific, while continuing its efforts to eradicate extreme poverty. Created in 1966, it belongs to 69 members, including 49 from the region.