The Ministry of Finance has disclosed that the Green Fund reached USD66 million by the end of August.
According to the Green Fund Report from the finance ministry, USD44 million has been added to the fund this year, with USD28 million already expended. The report indicates that the total balance now stands at USD66 million, encompassing the carried-over balance from the previous year and the income generated from Green Tax in the first eight months of this year.
Breaking down the contributions, the Green Fund received USD7 million in January, USD6 million in February, USD7 million in March, USD6 million in April, USD5 million in May, USD3 million in June, USD6 million in July, and USD4 million in August.
Introduced in 2016 under the Tourism Act of the Maldives, the Green Fund aims to address environmental concerns in the country. Tourists are charged USD6 as Green Tax per day spent at a resort or hotel and USD3 per day at a guesthouse. The funds collected are utilized for various projects, including the establishment of coastal protection, water supply, waste management, and sewerage systems across the nation.