TAMPA, Fla. — The Maldives is looking to raise $50 million for a space agency fund that aims to be the first of its kind for an island nation, targeting sovereign infrastructure and support for other developing states facing climate and security challenges.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...