The Edition


Maldives to establish 'green fund' for environmental projects

01 December 2018, MVT 09:51
Environment Minister at the oath-taking ceremony of the cabinet. PHOTO: HUSSAIN WAHEED / MIHAARU
01 December 2018, MVT 09:51

The government on Thursday decided to establish a trust fund under the name 'green fund' to solve environment-related issues in Maldives.

The Minister of Environment Dr Hussain Rasheed Hassan, on Thursday announced the decision to create a trust fund to manage revenue sourced from green taxes.

Speaking at the opening ceremony of 'Thimaaveshi Manthini', a series of gatherings initiated by the ministry, Dr Hussain stated that work was underway to set up the fund.

The minister did not reveal what type of projects this fund will be used to tackle.

According to the Permanent Secretary of the Ministry of Environment Ajwad Mustafa, revenue from green tax would be used for the green fund.

Ajwad added that they are currently working with the Ministry of Finance and Treasury.

The recently elected government pledged to publicize the way revenue from green tax is utilized within the first 100 days of its leadership.

Implemented in 2016 the green tax is levied on tourists who stay at resorts, hotels, guesthouses and tourist vessels such as safari yachts.