USD6.2 million in Green Fund as of August

The Ministry of Finance has revealed that the Green Fund contains USD66 million by the end August.

The Green Fund Report published by the finance ministry showed that USD44 million has been deposited in the fund this year while USD28 million has been spent. The statistics showed that the green fund now has a total of USD66 million through the balance brought forward from the previous year's end and the income derived from Green Tax during the first eight months of this year.

The statistics also showed that the Green Fund received an inflow of USD7 million in January, USD6 million in February, USD7 million in March, USD6 million in April, USD5 million in May, USD3 million in June, USD6 million in July, and USD4 million in August.

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. In addition, it is used to fund projects such as establishing coastal protection, water supply, waste management, and sewerage systems in various parts of the country.