Ministry of Finance has revealed that USD2.3 million has been utilised from the Green Fund in May to fund 43 projects.
The latest Green Fund Report published by the finance ministry shows 43 projects were financed in May. 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 May is a 27% decrease compared to the amount utilised in April.
The Green Fund report shows the biggest contribution in May was made to Outer Island Harbour, Water Supply and Sewerage Project, with USD384,000 spent on the project. The second-largest contribution was made to the construction of coastal protection structures in Fuvahmulah City, with USD358,000 spent on the project.
The Green Fund has received USD31 million so far this year while USD23.2 million has been utilised. The Green Fund contains USD54 million as of May.
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.