The Green Fund, raised with green tax from tourists, has grown to MVR 1 billion, according to figures from the Finance Ministry.
According to the latest Green Fund report released by the Finance Ministry, the Green Fund has MVR 1.01 billion as of June. This is the first time the fund has grown to MVR 1 billion since it was established in 2018.
Highlights of the Green Fund
- Amount stood at MVR 774 million at the beginning of this year
- From January to June, green tax collection stood at MVR 526.3 million
- MVR 287.7 million was spent
- Increased by MVR 238.5 million in the first half of the year
The highest green tax revenue this year came in March and January. The revenue for the two months is over MVR 100 million.
Since this is a tax levied on every night that each tourist spends in the Maldives, these figures are directly related to the tourist arrivals and the duration of their stay.
Green taxes are levied:
- Resorts, hotels and safaris - USD 6 per person per night
- Guesthouses - USD 3
The fund is mainly used for water and sewerage projects, waste management projects and beach protection projects. In addition, the fund is also being used to finance a project to invigorate a new generation of local palm trees.
