Ministry of Finance has revealed around USD 4.6 million was spent from the Green Fund in November 2021.
The latest Green Fund Report published by the finance ministry shows 46 projects were financed using the Green Fund in November last year. They include projects to establish 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 last November is a 330% increase compared to the amount spent in October 2021, as per the report. As such, USD 1 million was utilised from the Green Fund in October last year for 34 projects across the country.
The Green Fund report shows the largest contribution from last November was made to the project to establish a water supply system in Himmafushi, Kaafu Atoll, which cost USD 479,000. The second-largest contribution was made to the project to establish a regional waste management system in Gaafu Dhaalu Atoll, which cost USD 420,000.
In November 2021, the Green Fund received USD 4.8 million from green tax collection with the largest number of tax collected in Kaafu Atoll, which was USD 1.7 million. The second-largest amount of tax was collected in Alifu Dhaalu Atoll, which was USD 518,000.
The Green Fund contains USD 54 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.