Ministry of Finance reveals around USD 6.6 million has been spent from the Green Fund in the first quarter of 2021.
The latest Green Fund Report published by the Ministry of Finance shows USD 833,000 was spent in January, USD 3.8 million was spent in February, and 2 million U.S. dollars was spent in March. Around 30 projects were financed using the Green Fund in March, which includes projects to establish coastal protection, water supply, waste management, and sewerage systems in various parts of the country. In March, around USD 511,000 from the Green Fund was spent on the provision of water supply, sanitation, and waste management under Phase II of OPEC Fund for International Development (OFID). Around USD 236,000 was spent on environmental improvement and waste management of the Greater Male' Region.
The Green Fund was also used to finance projects in individual islands, including USD 164,000 for the development of a sewerage system in Gemanafushi, Gaafu Alifu Atoll, and USD145,000 for the development of a water and sewerage system in Inguraidhoo, Raa Atoll.
Furthermore, the Green Fund Report shows USD 13.9 million was added to the fund in the first quarter of 2021. The inflow includes USD 3.7 million received in January, USD 4.1 million received in February, and USD 6.1 million received in March. The Green Fund contains USD 60 million by the end of the first quarter.
The Green Fund was introduced to tackle environmental issues in the Maldives as per the Tourism Act of the Maldives. As such, USD 6 is charged as Green Tax per tourist for each day they spend at a resort or a hotel in the Maldives, while USD 3 is charged as Green Tax per tourist for each day they stay at a guesthouse.