The Ministry of Finance has announced that the Green Fund’s balance stood at MVR 1.2 million at the end of February. This follows deposits totalling MVR 102 million in February alone, with overall spending reaching MVR 94 million on various environmental projects during the first two months of the year.
The Green Fund is supported by a green tax, which is levied on tourists to finance environmentally sustainable initiatives. This tax applies to visitors staying in resorts, guesthouses, city hotels, and on safari trips.
Tourists visiting resorts and safari vehicles are required to pay a green tax of $6 per person for each day of their stay. Hotels located in residential areas and tourist guesthouses with more than 50 rooms are also subject to a USD6 daily green tax. For hotels and guesthouses with 50 rooms or fewer, the green tax is set at USD3 per day.
According to the Ministry’s report, the Green Fund began the year with MVR 1.1 billion. Deposits in January amounted to MVR 99 million, followed by February’s MVR 102 million, bringing the total green tax collected in the first two months to MVR 202 million.
In February, the Green Fund financed ten projects, with the largest expenditure being MVR 14 million allocated to the Greater Malé Waste to Energy Project. This initiative aims to convert waste into energy, reflecting the Fund’s commitment to environmental sustainability.
The Ministry of Finance’s report underscores the Green Fund’s role in supporting crucial environmental projects through the green tax, ensuring that tourism contributes to the country’s sustainability efforts.
