The Maldivian president has called on the international community to enhance the link between debt relief and climate finance.

President Dr. Mohamed Muizzu made this appeal while speaking as co-chair of the Strategic Advisory Group for the SIDS Debt Sustainability Support Service, at the side event titled ‘Building Resilient Futures: The Global SIDS Debt Sustainability Support Service’ as part of his ongoing visit to attend the 79th session of the United Nations General Assembly (UNGA 79).

As such, speaking at the event, the president urged the global community to enhance the link between debt relief and climate finance with an aim to ease debt challenges surfacing for Small Island Developing States (SIDS).

Shedding light on SIDS’ vulnerability and their ongoing struggles with debt sustainability, the Maldivian president backed a closer integration of debt relief and climate finance and suggested the SIDS Debt Sustainability Support Service (DSSS) prioritize the securing of more promising debt relief conditions including lower interest rates and extended repayment terms.

Muizzu went on to propose the reallocation of Special Drawing Rights (SDRs) through international financial institutions in a bid to boost the financial stability of SIDS as well as to lessen their contact with external shocks.

Stressing the urgent need for Multilateral Development Banks (MDBs) and International Financial Institutions (IFIs) to partner, Muizzu said that this will pave the path to unlocked investments as well as creating new economic opportunities.

The Maldivian president went on to urge SIDS to enhance their productive capacities and steer their own development by building strong institutions, empowering communities and fostering collaboration between the government and private sector.

Shedding light on the need for diversification, the president noted that it was crucial for SIDS to navigate a progressively unpredictable global economy with success.

Further, he also expressed confidence that DSSS can drive significant change, create fiscal space for sustainable growth, and enable SIDS to not just survive but thrive.

His trip to New York City which he began on Friday night, will proceed through September 29.

The event was the first event following his arrival in New York city on Saturday.

In collaboration with the International Institute for Environment and Development (IIED) and the SIDS Unit within the United Nations Department of Economic and Social Affairs (UN DESA), the side event was co-chaired by the governments of the Maldives, Antigua and Barbuda, and New Zealand.

A high-level delegation of senior government officials is accompanying the president as part of the trip. The President’s Office revealed that the high-level delegation will play an active leadership role throughout the trip.

The Maldivian leader will deliver his address at the GA on September 24.

Further, he is scheduled to take part in the Summit of the Future, co-chair key interactive dialogues and deliver speeches at multiple side events.

In addition to this, the Maldivian leader will engage in a series of bilateral and multilateral discussions with several state and government leaders.

According to the President’s Office, the visit holds significance as it marks Muizzu’s first appearance at the UNGA and coincides with the 59th anniversary of the Maldives' membership in UN.

The president and his delegation will conclude the official visit and return home on September 29.

Prior to his departure, Muizzu met with specific media outlets invited by the President’s Office at the airport.

Speaking to press, the president is to have shed light on the importance of meeting and working with various parties who can benefit the Maldives and that given the situation the country is presently in, it was crucial to visit the UN and convey the necessary messages on behalf of the Maldives.

The President’s Office stated that the president shed light on the significance of discussing environmental issues, technology, development, and other matters crucial for the future of the Maldives. He also highlighted the opportunity to seek assistance from the UN, various countries, and organizations.

The president is to have assured the press that his visit would be “fruitful” and would give “productive” results.