MVR 809 million in Green Fund by end of 2020

Records released by Finance Ministry shows the balance in Green Fund, as of the end of 2020, to be MVR 809 million.

According to the records, the State collected MVR 25 million as Green Tax in December 2020; MVR 24.3 million from resorts and MVR 745,846.58 from guesthouses and liveaboards.

The biggest contribution to Green Tax in December 2020 was from K. Atoll; with MVR 9.4 million from resorts, hotels and guesthouses in the region.

The second biggest contribution came from R. Atoll with MVR 2.43 million, the third biggest contribution from B. Atoll with MVR 2.4 million, and the fourth biggest contribution from N. Atoll with MVR 2 million.

While the Green Fund did not receive any funds except for a few atolls in the first few months after Maldives reopened its borders after the lockdown in 2020, the situation began to improve around November, and the Green Fund received tax proceeds from all atolls except from F. Atoll come December.

The records show the State utilized MVR 43 million from the Green Fund in December 2020 to finance water and sanitation projects, waste management projects, and power generation projects in November.

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.