Ministry of Finance has revealed that USD1.5 million was utilised from the Green Fund in July.
The latest Green Fund Report published by the finance ministry shows 38 projects were financed from the fund in July. The projects include establishing coastal protection, water supply, waste management, and sewerage systems in various parts of the country.
The Green Fund report shows the biggest contribution in June was made to the development of the water supply system in Maarandhoo, Haa Alifu Atoll, with USD297,000 spent on the project. The second-largest contribution was made to the development of the outer island harbour and water supply and sewerage under Phase 3 of the OPEC Fund for International Development (OFID), with USD219,000 spent on the project. Additionally, USD194,000 was spent on the Maldives Clean Environment Project and USD168,000 was spent on coastal protection in Fuvahmulah City.
The Green Fund has received USD39 million in the first seven months of 2022 while USD28 million was utilised. The Green Fund contains USD57 million as of July.
The Green Fund was introduced in 2016 with the aim of tackling environmental issues in the Maldives as per the Tourism Act of the Maldives. As such, USD6 is charged as Green Tax per tourist for each day they spend at a resort or a hotel in the Maldives, and USD3 is charged as Green Tax per tourist for each day they stay at a guesthouse.