Green Fund sees deposits hike by MVR 200m to reach MVR 1b
According to the latest Green Fund report released on Tuesday, the fund balance stood at MVR 988.8 million at the end of last month.
Five months into the year, the Green Fund has seen deposits increase by MVR 214.7 million, according to official figures.
According to the latest Green Fund report released on Tuesday, the fund balance stood at MVR 988.8 million at the end of last month. According to the figures:
-
MVR 476.1 million has been deposited in the fund this year
-
MVR 261.4 million has been spent from the fund so far this year
On an average, MVR 100 million has been deposited in the fund per month.
-
Highest amount deposited in March; MVR 105.4 million
-
The amount deposited last month was lower than the previous month; the deposit was MVR 83.1 million
-
This was due to less tourist arrivals with the off-season
Green Fund was set up to deposit money collected as Green Tax from tourists. The Green Tax is set at:
-
$6 per person per day for resorts, guesthouses and hotels which have 50 or above rooms
-
$3 per person per day for resorts, guesthouses and hotels which have less than 50 rooms
According to the data, MVR 7.5 million was spent from the fund last month. The Green Fund is funding 27 projects.
-
Most of these projects are for sanitation and clean drinking water in the islands
-
Setting up of solid waste management system in islands also incur a significant portion of the expenses from the fund
-
MVR 104,888 for a palm tree plantation programme to resolve shortage of coconuts
