Overview

Maldives is an upper-middle-income country spread out over hundreds of small tropical islands, and tourism is responsible for much of its successful economic growth in recent decades. As the impacts of climate change increase, Maldives’ islands are threatened by rising sea levels and increasingly frequent tsunamis. Protecting coastal resilience through insurance and risk finance is essential to safeguarding key economic sectors and ensuring sustainable growth.

Working with government partners, UNDP is helping to build Maldives’ long-term resilience and protect vulnerable communities through supporting the development and delivery of inclusive insurance and risk finance solutions.

Main Natural Hazards

Flood, Tsunami

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1 Source:
https://drmkc.jrc.ec.europa.eu/inform-index/INFORM-Risk/Country-Risk-Profile
Number of insurance providers

14 life insurance companies, 19 general insurance companies, 15 takaful operators and 7 reinsurers

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1 Source:
https://www.bnm.gov.my/regulations/fsp-directory
% Workforce engaged in agriculture

10% (2022)

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1 Source:
https://data.worldbank.org/indicator/SL.AGR.EMPL.ZS
Insurance penetration

5% (2022)

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1 Source:
https://www.atlas-mag.net/en/category/tags/pays/insurance-penetration-rate-in-asia-pacific
Biodiversity ranking

#16 out of 239 countries and territories (2023)

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1 Source:
https://worldrainforests.com/03highest_biodiversity.htm
Small business % contribution to workforce

48.2% of total employment (2022)

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1 Source:
https://www.thestar.com.my/business/business-news/2023/07/27/malaysia039s-msme-gdp-surges-116-in-2022-to-rm5804bil--dosm

Our projects

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