Ministry of Finance has revealed that USD840,000 was utilised from the Green Fund in December 2022 to fund 56 projects. The amount is a 2.6% increase compared to November, in which USD3 million was utilised to fund 44 projects.
The latest Green Fund Report published by the finance ministry shows that the Green Fund was utilised to fund projects such as establishing coastal protection, water supply, waste management, and sewerage systems in various parts of the country. The report shows the biggest contribution in December was made on beach protection and waste management projects.
The Green Fund received USD4.8 million in December while USD51 million was utilised. Of this, USD1.6 million was collected as green tax from Kaafu Atoll. This includes USD1.5 million from resorts and USD103,000 from guesthouses. In addition, the Green Fund spent USD58.8 million on various projects last year while USD63 million was deposited in the previous year. The highest amount of money deposited in the Green Fund last year was in March with USD6.8 million.
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.