UNCDF in the Maldives
Asia and the Pacific Region
Guarantees
Our work
The United Nations Capital Development Fund (UNCDF) is working with the Government of the Maldives, and the United Nations Development Programme (UNDP) to develop a guarantee facility to accelerate the country's energy transition. The domestic guesthouse sector has been identified as a key recipient, with additional opportunities in resorts, fisheries, and cold chain infrastructure. The financial services industry is optimistic, viewing this initiative as a forward-looking opportunity to meet Environmental, Social, and Governance (ESG) obligations and develop new market segments. The mechanism aims to directly contribute to the Roadmap for the Energy Sector 2024–2033: Paving the Way for a Just Energy Transition in the Maldives, with a commitment to a 33% renewable energy share in the electricity sector by 2028. Consultations with financial institutions are commencing, and further support for the wider market ecosystem is being identified for inclusion in the project.
Derisking investments for a just energy transition
UNCDF is supporting the design of a targeted credit guarantee mechanism to de-risk lending for renewable energy and energy efficiency investments by local financial institutions.
The facility includes two risk-sharing tranches: one for small-scale systems such as solar PV, efficient cooling, and water heating, and another for mid-sized commercial projects, supported by pre-agreed coverage ratios and delegated credit approvals.
A technical assistance component will accompany the facility to build institutional readiness among financial institutions and Energy Service Providers, stimulate demand within the guesthouse and SME sectors, and integrate clean energy into financial product design and risk assessment. The facility is expected to be operational by the end of 2025.
Latest news and stories
Our partners
UNCDF’s work in the Maldives is made possible thanks to the Government of Maldives (Ministry of Finance; Ministry of Climate Change, Environment and Energy), United Nations Development Programme (UNDP), UN Resident Coordinator’s Office, Joint SDG Fund, financial institutions, and private sector partners.
Documents
This section brings together key documents related to UNCDF’s work in the country. It includes a curated selection of publications, papers, and reports that reflect the scope of engagement at country level, from programme design to implementation and outcomes.
These documents offer additional context on how initiatives are developed and delivered, and how partnerships contribute to advancing national priorities. They are intended to support transparency, facilitate knowledge sharing and serve as a practical resource for partners, stakeholders and others seeking a deeper understanding of UNCDF’s work.
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Contact us
For inquiries about UNCDF’s work in the Maldives, including partnerships, investment opportunities, or ongoing initiatives, please contact our team at asiapacific.region@uncdf.org.
