MALE, June 7 (Xinhua) -- Maldivian President Mohamed Muizzu announced that 454,000 U.S. dollars will be allocated annually from the Maldives Green Fund to support environmental protection and conservation initiatives across the archipelago, reported state media PSM News Saturday.

The president made the announcement on Friday, which was World Environment Day. In his address, he said one of the greatest challenges in addressing climate change is the lack of adequate financial resources.

He said the annual fund is in addition to the budget already allocated to the environment. It will support a variety of programs, including the management of protected areas and their wildlife, conservation initiatives, environmental research, public awareness programs, technical capacity-building efforts, and environmental projects undertaken by civil society organizations and schools. ■