President Mohamed Muizzu has announced that MVR seven million will be allocated annually from the "Maldives Green Fund" for environmental conservation efforts.
In a message delivered on the occasion of World Environment Day, Muizzu highlighted that the lack of adequate funding remains the biggest challenge to environmental protection.
"The biggest obstacle to identifying climate-related changes and the environmental impacts of national development—and taking the necessary steps to mitigate damage and protect our environment—has been the lack of sufficient financial resources," he said.
The Green Fund receives over MVR 100 million monthly, with annual collections exceeding MVR one billion. However, average spending from the fund has reportedly remained low. The Green Fund was established in January 2019 under the Public Finance Act.
Muizzu clarified that the money allocated from the Green Fund for environmental protection would be in addition to the regular annual budget assigned to the environmental sector.
He further explained that the funds drawn from the Green Fund would be utilized for the management of protected areas, adding that the money would also support environmental research, information dissemination, and the enhancement of technical capacity within the field.
