Ministry of Finance has revealed that the Maldives Green Fund received a sum of over USD 40.06 million in the first seven months of 2023.
The Maldives Green Fund is financed through a tax levied on tourists visiting the Maldives, with the primary purpose of funding environmental initiatives within the country. The tax, which was introduced in 2016, is collected from tourists staying at resorts, guest houses, city hotels, and liveaboards, in accordance with the Maldives Tourism Act. A daily tax of USD6 is imposed on tourists frequenting these designated tourist accommodations, under the legislation.
As detailed in the Finance Ministry's Green Fund Report, a total of USD40.06 million has been deposited into the fund this year, while expenditures amounted to USD23.1 million. These figures indicate that the Green Fund now totals USD 66.88 million.
The Green Fund plays a pivotal role in the implementation of various environmental development projects across different islands of the Maldives. These initiatives encompass essential areas such as water and sewerage infrastructure, shoreline protection endeavors, and waste management projects.