Unlocking Climate Financing and Climate Resilient Green Growth Potential in Mauritius

Project Summary:

This grant supports the Government of Mauritius under the "Mauritius First Growth and Climate Resilience Development Policy Financing" (DPF) series, to transition toward becoming an inclusive, high-income, and green economy by strengthening climate finance mechanisms and building resilience across key sectors.

It addresses two interconnected priorities -- inclusive and green growth-- encompassing improvements in labor market outcomes, broadband accessibility, and public investment management; and climate resilience--focused on accelerating the renewable energy transition and improving the management of natural resources, including coastal and marine ecosystems.

The grant is organized around three activities:

• Developing a climate finance strategy, including risk assessments for the financial sector, diagnostics of green finance markets, and a roadmap for financial instruments targeting priority sectors.
• Assessing the potential and needs for climate-resilient green growth, with particular attention to coastal management, fisheries, and the blue economy, culminating in investment action plans.
• Supporting knowledge dissemination, capacity building, and training for government officials — including study tours to Korea — on climate finance and green growth practices.

This grant is aligned as follows:

• It supports the implementation of the World Bank Group's Mauritius First Growth and Climate Resilience DPF (P501014), which helps the government foster inclusive, green growth through improved labor market outcomes, resilience, and better public investment management.