Green Fund receives MVR 73 mln in August

The Green Fund received MVR 73 million in August.

According to the Finance Ministry, the Green Fund received MVR 681.6 million from January to August this year. The most significant income for the Green Fund in August came from K. atoll. The atoll generated MVR 27 million for the Green Fund.

Fifty projects are already being implemented with the funds in the Green Fund. In August, MVR 107 million was spent from the fund on these projects. Projects funded by the Green Fund include beach protection and water and sewerage projects.

While MVR 539.8 million has been utilized from the Green Fund as of August this year, the fund now has MVR 849 million remaining in the account.

Amount utilized from Green Fund from January to August:

January: MVR 11 million
February: MVR 107 million
March: MVR 140 million
April: MVR 59 million
May: MVR 36 million
June: MVR 51 million
July: MVR 23 million
August: MVR 107 million

The Green Tax was introduced in October 2016 to raise funds for various environmental activities in the Maldives. As of July, the Green Tax was USD 6 for tourists at resorts, safaris, and hotels and USD 3 for guesthouse vacationers. Green Tax was not collected in July due to a negligent amendment to the Tourism Act. However, following further amendments to rectify the issue, the collection of Green Tax resumed on September 21.