Maldives Secures EUR 6.5 Million Investment for Blue Economy Development

Maldives and the European Union (EU) formalised a financial agreement today, pledging EUR 6.5 million to bolster the island nation’s blue economy.

The agreement was formalised during today’s meeting between Maldivian Foreign Minister Moosa Zameer and Paola Pampaloni, the Deputy Managing Director of the Asia and Pacific Department of the European External Action Service.

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Convened at the Foreign Ministry, the meeting commenced with reflections from both Zameer and Pampaloni on the notable strides achieved through the collaborative efforts of the Maldives and the EU. Notably, recent years have witnessed significant advancements in climate change resilience, judicial reform, and counterterrorism, all attributed to bilateral cooperation.

https://x.com/EU_Maldives/status/1797543456581288125

Expressing gratitude, Zameer acknowledged the EU’s support initiatives, which have contributed to the Maldives’ economic vitality and its pursuit of climate-resilient socioeconomic development. Among these initiatives is the €6.5 million financial agreement, a testament to the EU’s commitment to fostering sustainable growth in the Maldives.

During the meeting, Zameer also underscored the Maldivian government’s interest in securing exemption from Schengen visa requirements, further indicating the country’s aspirations for enhanced international engagement.

Accompanying Zameer were key officials from the Maldivian Foreign Ministry, including Foreign Secretary Fathimath Inaya, Secretary Bilateral Dr. Hala Hameed, and other senior representatives. Pampaloni’s visit to the Maldives coincides with her co-chairing role in the fifth Maldives-EU senior officials meeting, highlighting the continued dialogue and cooperation between the two entities.