The cabinet has today advised President Dr Mohamed Waheed to establish the ‘Maldives Green Fund’ to facilitate co-finance and enable investments in capacity development and leveraging of commercial and foreign finance in waste management, water management and renewable energy projects. The Cabinet made this recommendation after discussing a paper presented Ministry of Environment, Energy.
The ‘Maldives Green Fund’ aims to merge all the trust funds established in accordance with the sustainable development policy of the government to make the Maldives a Biosphere Reserve.
At the meeting, members of the Cabinet noted that the decision to merge the trust funds would enable to reduce the costs and strengthen operational efficiency.