With the rapid development of the tourism and fisheries sectors, the Maldives has enjoyed a long period of robust economic growth. The average rate for real GDP increase between 2000 and 2009 has been 6%, which is one of the highest in Asia. Multiple developmental projects, categorized as climate mitigation and adaptation projects, are announced each year from harbour construction and land reclamation to housing, water and sanitation.
However, this development comes at a cost. This governance update will highlight the issues and costs of undertaking developmental projects without long term considerations of climate change mitigation and adaptation.
As Margareta Wahlstrom, the UN Assistant Secretary-General for Disaster Risk Reduction stated, “Climate change is treated as a disaster but it is a very fundamental development issue.”
The majority of the aforementioned projects are in the form of loans and grants from various international donors and organizations, worth millions of dollars, to aid the country in its efforts to combat the negative effects of climate change.
We will also be touching upon the importance of community consultation and participation when implementing developmental projects and the negative consequences of failing to do so.
Read our governance update here: Climate Finance Governance Update May 2016