The Minister of Finance Moosa Zameer has announced the Maldives's target to convert 33 per cent of its energy consumption to renewable sources.

Speaking at the Global Economic Policy Forum in India, the Minister emphasised the importance of collective efforts and international support to achieve this ambitious goal.

Highlighting the Government's commitment to climate-friendly development, Minister Zameer underlined the crucial role of foreign assistance in driving the renewable energy transition.

He emphasised that the forum occurred during a period of significant global economic turbulence, marked by the Ukraine-Russia war and conflicts in the Middle East. These crises have created far-reaching ripple effects, particularly impacting smaller nations like the Maldives, whose tourism-dependent economy and import capabilities have been notably affected.

Minister Zameer also addressed the strain of debt incurred by many countries during the COVID-19 pandemic, further stressing the need for sustainable debt management strategies and revenue generation to tackle the long-term economic impact.