The Maldives Green Fund maintained a positive balance at the end of October 2024, according to the latest Green Fund Report released by the Ministry of Finance on 6 February 2025. The report shows that inflows for October amounted to MVR 77.1 million, while outflows stood at MVR 75.7 million, resulting in a net balance of MVR 1.37 million for the month.
Established to finance environmental initiatives, the Green Fund is primarily supported by the country’s Green Tax collection. The report highlights that total inflows for the year reached MVR 885.3 million by October, while total expenditure stood at MVR 401.3 million. With a balance carried forward from 1 January 2024 of MVR 1.18 billion, the fund’s cumulative balance at the end of October stood at MVR 1.66 billion.
The fund’s expenditures primarily focus on coastal protection projects, waste management, and climate resilience initiatives. Major spending in October included projects such as the Coastal Protection of Sh. Komandoo (MVR 31.5 million), Coastal Protection of Th. Buruni (MVR 14.6 million), and Coastal Protection of GDh. Rathafandhoo (MVR 9.1 million). Additionally, allocations were made to the Greater Malé Waste to Energy Project, Southern Marine Park Management Project, and various small-scale environmental initiatives.
While the reported expenditures reflect amounts earmarked for Green Fund projects, they do not necessarily represent actual cash outflows for the month, as some expenses are carried over from previous periods. The fund’s overall surplus indicates continued growth in green tax revenue, allowing further investment in environmental sustainability across the Maldives.
With an increasing balance and consistent inflows, the Maldives Green Fund remains a key financial mechanism supporting the country’s climate adaptation and conservation efforts.
