MVR 921 million in Green Fund by end of March

Tourists walk along a jetty in a Maldivian resort. (File Photo/Sun/Mohamed Muzain Nazim)

Records released by Finance Ministry shows the balance of the Green Fund, as of end of March this year, to be MVR 921.48 million.

According to the latest updates on the Green Fund released by Finance Ministry, the state collected MVR 93.4 million as Green Tax in March. This includes MVR 92.2 million from resorts, guesthouses and city hotels, and MVR 1.1 million from liveaboards.

The biggest contribution came from K. Atoll, with total MVR 32 million from resorts, guesthouses and city hotels in the region.

An additional MVR 18.6 million was collected from ADh. Atoll and MVR 9.9 million from B. Atoll.

Meanwhile, MVR 31.1 million from the Green Fund was utilized to finance projects in March.

The Green Fund is utilized to finance environmental protection projects and sustainable development projects such as water and sanitation projects, coastal protection projects, and waste management projects.

Green Tax is charged at the rate of USD 6 per tourist per night from resorts, and at the rate of USD 3 per tourist per night from guesthouses.