Ministry of Finance has revealed that the Green Fund comprised USD 77.8 million by the end of February 2024.
The Green Fund report publicised by the ministry stipulates the accumulation of USD 6.6 million by February 2024, with USD 6 million spent by the fund on the expenses of various projects since January 2024.
Green tax is a tax levied on tourists, aiming to generate revenue to financially assist in environmental projects. The tax is imposed on tourists in resorts, hotels, guest houses and safaris. As such, tourists spending their vacations in resorts and safaris are to pay at a rate of USD 6 daily as green tax. Meanwhile, tourists staying in hotels in inhabited islands or guest houses registered with more than 50 rooms are charged USD 6 on a daily basis. Likewise, tourists staying in hotels in residential areas with 50 rooms or fewer are also charged at a rate of USD 3 daily.
Statistics on the Green Fund released by the ministry are as follows:
- December 2023: USD 71 million
- January 2024: USD 6 million
- February 2024: USD 6.6 million
Hence, it can be concluded that within the first two months of 2024, USD 13 million was generated through green tax. The Green Fund has financially assisted in 10 projects in February, with the greatest expenses incurred for the Greater Male’ Waste-to-Energy Project. A total of USD 907,000 was spent on the project solely.