Green Fund Records MVR 1.02 Billion Increase by August-End

The Finance Ministry has reported a significant rise in the Green Fund, with a total increase of MVR 1.02 billion by the conclusion of August.

As per the Ministry of Finance’s Green Fund report, MVR 686 million has been deposited this year, while MVR 436 million has been spent. The current balance of the Green Fund stands at MVR 1.02 billion, encompassing the remaining amount from the previous fiscal year and the total revenue collected from the Green Tax in the initial eight months of the current fiscal year.

- Advertisement -

The Green Tax collection for the first eight months is as follows:

  • January: MVR 100.7 million
  • February: MVR 91.8 million
  • March: MVR 105.4 million
  • April: MVR 94.9 million
  • May: MVR 83.0 million
  • June: MVR 50.2 million
  • July: MVR 91.0 million
  • August: MVR 69 million

The Green Fund has been directing funds towards various environment-related development projects in the Maldives, including water and sanitation works, coastal protection, and waste management.

Expenditure from the Green Fund during the first eight months is detailed as follows:

  • January: MVR 74.5 million
  • February: MVR 66.0 million
  • March: MVR 77.4 million
  • April: MVR 35.8 million
  • May: MVR 7.6 million
  • June: MVR 26.2 million
  • July: MVR 69.9 million
  • August: MVR 78 million

The Green Tax, levied on tourists in integrated tourist resorts, resort hotels, and tourist vessels at USD 6 per day, contributes significantly to the fund. Additionally, accommodations in residential areas with over 50 registered rooms face a daily fee of USD 6, while those with 50 rooms or fewer are charged USD 3 per day.

- Advertisement -