Ministry of Finance has revealed that USD3 million was utilised from the Green Fund in November to fund 44 projects. The amount is a 66% decrease compared to October, in which USD10 million was utilised to fund 60 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 November was made to the development of a water supply system in Mathiveri in Alifu Alifu Atoll with USD318,000, a water and sewerage system in Feridhoo in Alifu Alifu Atoll, with USD286,000, a water and sewerage network in Himandhoo in Alifu Alifu Atoll, and coastal protection structures in Buruni in Thaa Atoll with USD253,000.
The Green Fund received USD58 million in the first 11 months of 2022 while USD51 million was utilised. The Green Fund contains USD54 million as of November.
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.