Green fund grows to MVR 1.6 bln by September

The Finance Ministry has revealed that the Green Fund had accumulated over MVR 1.6 billion by the end of September.

According to the Green Fund Report published by the ministry, the Green Fund started out this year with MVR 1.1 billion. While MVR 808 million had been deposited into the fund between January and September, MVR 325 million was utilised from the fund during that period.

The 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.