Wednesday, December 4, 2024

Nauru’s CBI Criteria to Align with FATF Standards

The World’s fifth most vulnerable country in the world, has launched new economic and climate resilience citizenship program that will provide an innovative avenue to secure funding for a sustainable Nauru, helping to address and overcome the devastating impacts of climate change.

All Contributions from the program will directly fund critical projects including coastal protection, renewable energy infrastructure to reduce carbon emissions, sustainable agriculture to enhance food security, water resource management to combat saltwater intrusion and intensified droughts, and biodiversity conservation.

“This is a historical moment for Nauru. Once defined by phosphate reserves, our nation now faces the dual challenges of climate vulnerability and economic diversification. Yet, in these challenges, we see opportunities to lead with resilience and innovation,”

-President Adeang.

 President David Adeang during his speech on the opening of Nauru’s innovative Economic and Climate Resilience Citizenship Program at the 18th Global Citizenship Conference in Singapore, noted the importance of compliance aligning with FATF standards.

“The newly introduced citizenship program is a testament to this commitment to compliance. Our legislation mandates that citizenship criteria align with FATF Standards, a necessary measure to uphold the integrity of this initiative.”

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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