Green Fund used to address coconut shortage
The agriculture ministry has since brought in 5,000 coconut palms to the Maldives from the Indian state of Kerala.
By
Ahmed Naaif
Government is using financing from the Green Fund to resolve the shortage of coconuts after many coconut palms in the country died due to a disease.
The Green Fund was set up by the government to meet the expenses required for climate change mitigation and adaptation.
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The green tax levied on tourists is deposited in the fund
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The fund usually undertakes projects such as water supply and sanitation projects in the islands and conservation of rural areas
According to the latest Green Fund reports released by the finance ministry, the fund has been spending since November to address the issue of shortage of coconut in the country.
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MVR 567,370.52 has been spent for the task
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The highest amount was spent in December; MVR 320,401
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MVR 183,668.65 was spent in November
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Even in January and February, an average of MVR 31,650 was spent for the same cause
It is not clear what the money is directly spent on. However, the agriculture ministry has since brought in 5,000 coconut palms to the Maldives from the Indian state of Kerala.
STO, a government-owned company, has also started importing and coconuts.
At the end of February, the Green Fund had MVR 825.9 million, according to finance ministry data. The fund also spent MVR 65.9 million in February.
The major expenses incurred by the fund include:
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Coastal conservation project in Lh. Kurendhoo - MVR 14 million
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Coastal conservation project in M. Kolhufushi - MVR 10.9 million
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Construction of embankments, water and sewerage facilities in rural areas - MVR 5 million
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K. Himmafushi water supply system - MVR 5.1 million
