MVR 192 mln utilized from Green Fund

MVR 192 million has been utilized from the Green Fund thus far this year.

Revenue generated as Green Tax is added to the Green Fund to solve environment-related issues in Maldives.

A report publicized by Finance Ministry said MVR 579 million has been deposited into the fund this year, out of which MVR 192 million has been utilized.

While MVR 27 million was utilized in August, MVR 354,729 was used for Storm Water Development and Maintenance in capital Male'. Several environment-related projects and water supply and sewerage projects were carried out in the atolls.

According to the Green Fund Report, there was an inflow of MVR 72 million in August, with MVR 67 million coming from local resorts. While MVR 1.4 million came geom hotels, MVR 1.9 million was generated by guesthouses. Liveaboards accounted for MVR 894,862.56.

The government introduced the Green Tax during October 2016 to gather funds to tackle environmental issues in the Maldives. US$ 3 is charged as Green Tax per tourist at local guest houses and US$ 6 is charged per head at other tourism service providers.

The "Green Fund" was established earlier this February, and since then, revenue collected as Green Tax is deposited into the fund.