The Government of the Maldives is in the process of establishing Maldives Green Fund (MGF), under a Presidential Decree. Currently, the proposed legal forms for the Fund include either State Owned Enterprise coming under the Companies Act or a Trust Fund coming under Public Finance Act provision.
The MGF will handle climate finance on a range of sectors, including renewable energy, energy efficiency, water and waste management among others. Once established programmes such as Scaling Up of Renewable Energy in Low Income Countries Programme in the Maldives, projected to be worth USD139 million, will come under MGF.
This document outlines Transparency Maldives’ general comments and proposals on the documents establishing MGF.