Ministry of Finance has revealed that USD71 million has been utilised from the Green Fund as of May this year.
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 Green Fund received an inflow of USD5.4 million in May and currently consists of USD64 million.
Additionally, the Green Fund was utilised for 27 projects in May. The report shows the biggest contributions in May were made to the Greater Male Environmental Improvement and Waste Management project with USD208,000 and the development of a water supply system in Dhiaymigili, Thaa Atoll, with USD123,000.
The report also shows that the state received USD5.3 million as Green Tax in May, of which USD4.9 million was collected from resorts, USD305,000 from guesthouses, USD162,000 from liveaboards and USD77,000 from hotels. In addition, Kaafu Atoll contributed USD1.9 million in Green Tax collection, Raa Atoll contributed USD519,000 and Alifu Dhaalu Atoll contributed USD453,000.
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.