Excellencies,
Ladies & Gentlemen,
The path forward rests firmly in our hands, with finance as the as the catalyst for our development needs.
I congratulate the Presidency on the initiatives for Climate Finance Action Fund, the Baku Initiative for Climate Finance and the Investment and the Trade Dialogue.
In the Maldives, we are transforming commitments into concrete actions.
We are establishing a dedicated Special Climate Fund.
We are diversifying our economic portfolio.
But we are often going beyond our capacity.
For instance, our National Strategic Framework to Mobilize International Climate Finance reveals, we need billions of dollars to strengthen resilience and enhance low-emission development.
This COP must set a new climate finance goal. The message should resound clearly; those who are most vulnerable will not be left behind.
But, ambition alone is not enough. We need action – and that is access to reliable, adequate, sustainable financing.
We require new approaches – such as linking debt forgiveness to climate milestones.
Global financial systems must be transformed – where our vulnerabilities are not liabilities, and resilience is a pivotal investment in our collective future.
And the transformative potential of the private sector to be unlocked, with the right incentives. Private sector lenders must partner with official creditors, ensuring favourable borrowing terms and extended maturities.
We require the international community to empower SIDS through facilitating more grant-based finance and concessional instruments; enabling us to access capital easily.
The fragmented approach of the past must give way to unity. Delivering real solutions for SIDS.
This is a make-or-break moment.
Inaction, or even delayed action, is not an option for countries like mine.
Excellencies, Dear Colleagues, let’s not break it, rather make it for the future.
I thank you.