MVR 1.2 bln Green Fund balance as of end of February, reveals Finance Ministry

The Finance Ministry has revealed that the Green Fund held MVR 1.2 billion at the end of February.

According to the Green Fund report published by the ministry, MVR 202 million was added to the Green Fund in the first two months of this year, with MVR 102 million deposited in February alone.

During the two-month period, MVR 94 billion was utilized from the fund, with the highest percentage allocated to the Greater Male' Waste to Energy project. In February, expenditures for the project reached MVR 14 million.

Green tax, introduced in October 2016, aims to generate funds for various environmental initiatives in the Maldives, including water and sewerage projects, waste management projects, and beach protection activities. The tax is imposed on tourist resorts, hotels, guesthouses, and liveaboards.