38 Projects Financed Through The Green Fund In February

The Ministry of Finance has disclosed its latest Green Fund Report which revealed that a total of USD 4.2 million was invested in 38 projects using the Green Fund. Expenditures were driven into various projects ranging from coastal production, water supply and waste management as well as the establishment of sewerage systems in different parts of the country.

A closer look at the statistics also reveals that a significant amount of funding was allocated to the coastal protection of Kurendhoo Island in Lhaviyani Atoll which accounted for USD 934,000. This was followed by a similar project on Kolhufushi Island in Meemu Atoll which utilized USD 707,000 from the fund. Lastly, a huge chunk of the expenditure was also invested in the development of a water supply system on Himmafushi island in Kaafu Atoll as well. That project cost USD 324,000.

The Green Fund was launched in 2016 with the aim of combating environmental issues in the Maldives as per the Tourism Act of the Maldives. As such, USD6 is charged as Green Tax per tourist for each day they spend at a resort or a hotel in the Maldives, and USD3 is charged as Green Tax per tourist for each day they stay at a guesthouse.