R24 News
President Muizzu Calls for Climate Finance to Shift From Loans to Grants

President Dr Mohamed Muizzu has urged the international community to turn climate commitments into action, calling for grant based assistance, financial reforms and greater accountability to support vulnerable island nations.

Published by:
Mariyam Adheela Mariyam Adheela
Assistant Editor

President delivers National Statement at the High-level segment of COP31

ANTALYA, Türkiye: President Dr Mohamed Muizzu has called on the international community to fulfil its climate commitments and reform the global financial system to better support vulnerable small island nations.

Delivering the Maldives’ national statement at the United Nations Climate Change Conference (COP31), President Muizzu stressed the need for practical action, particularly in climate financing, institutional reforms and the implementation of international commitments.

He said funding for climate disaster preparedness and recovery should increasingly be provided as reliable grants rather than loans. He also called for increased contributions to the Green Climate Fund, Adaptation Fund and Loss and Damage Fund.

Calls for fairer climate financing

The President said vulnerable countries that contribute little to causing climate change should not be forced to take on additional debt to recover from climate related disasters.

He also urged international financial institutions and credit rating agencies to recognise spending on resilience as an investment rather than a financial burden, taking into account the specific circumstances of small island developing states.

Highlighting the Maldives’ achievements, President Muizzu said the country was the first small island nation in Asia to receive accreditation as a National Direct Access Entity of the Green Climate Fund.

He added that despite limited resources, the Maldives was making significant efforts to strengthen food, water and energy security.

Urges action on international commitments

Concluding his statement, President Muizzu called for greater access to technology to achieve climate targets and urged countries to demonstrate political commitment through concrete action.

He also stressed the importance of strengthening fairness and accountability at the international level, calling on all parties to honour the commitments they have made to address climate change.

#President Dr. Mohamed Muizzu
#United Nations
#COP31