Maldives to establish 'green fund' for environmental projects
The Edition December 01, 2018
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.