Ministry of Finance has revealed that USD4 million has been utilised from the Green Fund in April to fund 31 projects.
The latest Green Fund Report published by the finance ministry shows 31 projects were financed in April. The projects include establishing coastal protection, water supply, waste management, and sewerage systems in various parts of the country. The amount spent on projects from the Green Fund during April is a 51% decrease compared to the USD9 million spent in March.
The Green Fund report shows the biggest contribution in April was made to the establishment of the water and sewerage system in Maalhendhoo, Noonu Atoll, with USD518,000 spent on the project. The second-largest contribution was made to the construction of coastal protection structures in Thulhaadhoo, Baa Atoll, with USD500,000 spent on the project.
The Green Fund has received USD25 million so far this year while USD20 million has been utilised. The Green Fund contains USD50 million as of April.
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.