EU Supports Maldives’ Blue Economy with €6.5 Million Funding

The European Union (EU) and the Maldives have signed a landmark financial agreement to allocate €6.5 million towards strengthening the island nation’s blue economy. The signing took place on Sunday during a meeting at the Maldivian Foreign Ministry, marking a significant step in the ongoing partnership between the EU and the Maldives.
The agreement was formalized by Maldivian Foreign Minister Moosa Zameer and Paola Pampaloni, Deputy Managing Director of the Asia and Pacific Department of the European External Action Service. The meeting commenced with reflections on the substantial progress made through Maldives-EU cooperation, emphasizing climate change resilience, judicial reform, and counterterrorism efforts.
Foreign Minister Zameer expressed deep gratitude to the EU for its unwavering support and highlighted the importance of the €6.5 million financial agreement. He underscored how these funds will contribute to climate-resilient socioeconomic development, enhancing the Maldives' efforts to protect its vulnerable marine ecosystems and promote sustainable economic growth.
"The EU’s comprehensive support initiatives have been pivotal in our journey towards a resilient and sustainable future. This new financial agreement is a testament to our strong partnership and shared commitment to the blue economy," said Zameer during the meeting.
The Foreign Minister also raised the Maldivian government’s interest in being included in the list of countries exempt from Schengen visa requirements, further emphasizing the desire for closer ties and easier travel between the Maldives and Europe.
Paola Pampaloni, representing the EU, praised the Maldives for its proactive approach to addressing climate change and promoting sustainable development. She reiterated the EU’s commitment to supporting the Maldives in these critical areas, ensuring that the island nation can continue to thrive in the face of environmental challenges.
The meeting was attended by key Maldivian officials, including Foreign Secretary Fathimath Inaya, Secretary Bilateral Dr. Hala Hameed, Joint Secretary Shiuneen Rasheed, Senior Under Secretary Hassan Hussain Shihab, Senior Political Director Ahmed Haanee Naeem, and Chief Desk Officer Aminath Shaistha Hamdan Zaki. Their presence highlighted the importance of this agreement and the collective efforts to strengthen Maldives-EU relations.
Pampaloni’s visit to the Maldives coincides with her role as co-chair of the fifth Maldives–EU senior officials meeting, further solidifying the collaborative spirit between the two parties. This meeting serves as a platform for discussing ongoing initiatives and exploring new avenues for cooperation, ensuring that both the Maldives and the EU can achieve their mutual goals.
The €6.5 million funding will be directed towards various projects aimed at enhancing the Maldives' blue economy. These initiatives will focus on sustainable fishing practices, marine conservation, and the development of eco-friendly tourism, all crucial components of the Maldives’ economic framework.
As the Maldives continues to navigate the challenges posed by climate change, the support from the EU will play a critical role in building a more resilient and prosperous future. This agreement not only strengthens the Maldives' blue economy but also reinforces the enduring partnership between the EU and the Maldives, setting a precedent for future collaborations in the region.
With this new financial boost, the Maldives is poised to make significant strides in sustainable development, ensuring the well-being of its people and the preservation of its natural resources for generations to come.