Increasing Climate Change Resilience of Maldives through Adaptation in the Tourism Sector - Project Document (2011)
This project aims to strengthen the adaptive capacity of the tourism sector to reduce risks to climate-induced economic losses. The project will establish at least 10 new investment projects to modify operational infrastructure to increase resilience to the impact of climate change and implement 10 community-based adaptation projects between tourism-associated communities and operators. The project will also work to assess the feasibility of market-based risk financing mechanisms, such as weather index-insurance, and ensure that tangible private-sector investments can be leveraged.
Public-private partnerships will demonstrate the adoption of climate-resilient building codes, freshwater collection, distribution and storage, flood-proofing of waste and waste water management systems, protection of coastal ridges and vegetative belts, and diversification of energy services with renewable resources. With tourism making up 30% of GDP and 60% of foreign exchange receipts, enhancing adaption measures for these vulnerable islands is crucial.