MVR 27.13 million spent from Green Fund on projects

An aerial shot of Fushifaru Maldives Resort. (Sun Photo/Fayaz Moosa)

Records released by Finance Ministry show MVR 27.13 million was utilized from the Green Fund for state projects by the end of August.

According to Finance Ministry records, the Green Fund had a balance of MVR 388.52 million by the end of August.

Money on the Green Fund is utilized for environmental protection and sustainable development projects such as water and sanitation projects, coastal protection projects and waste management projects.

Green Tax collected from tourist resorts, city hotels and guesthouses in K. Atoll made for the single biggest contributor to the Green Fund in August with MVR 25.84 million. The second biggest contribution came in from A. Dh. Atoll with MVR 11.64 million, followed by MVR 6.98 million collected as Green Tax from resorts, city hotels and guesthouses in B. Atoll.

Total MVR 72.09 million was collected as Green Tax in August.

Green Tax was first imposed on tourists who stay at resorts at the rate of USD 6 per night in 2015. It was expanded to tourists who also stay at guesthouses at the rate of USD 3 per night in 2016.