Finance Ministry Allocates MVR 2.5 Billion for New Policy Initiatives
Name board with several government offices, including the Ministry of Finance | Photo: MV+
The Ministry of Finance and Public Enterprises has instructed government ministries to identify and submit new initiatives for inclusion in the upcoming budget, allocating MVR 2.5 billion for new projects over the 2027–2029 period.
According to a circular issued by the ministry, ministries can now propose items under the “New Policy Initiative” window for inclusion in the 2027–2029 programme budget.
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The circular sets aside MVR 2.5 billion for new projects over the three-year period. Of this, MVR 2 billion has been allocated for infrastructure development, while MVR 500 million has been earmarked for other initiatives across different sectors.
The Ministry of Finance and Public Enterprises has set 18 August as the deadline for ministries to submit proposals through the “Bandeyri Portal”.
It stated that all new initiatives must align with the government’s manifesto commitments and pledges made by President Dr Mohamed Muizzu. It added that legally mandated obligations and commitments under existing agreements will also be included under the new projects.
The ministry also confirmed that it will pilot Gender Equity and Social Inclusion (GESI) budgeting in the 2027–2029 cycle to assess the impact of budget allocations on promoting gender equality and social inclusion.
In addition, the ministry said ministries must clearly indicate whether proposed projects are “climate-relevant” as part of efforts to develop a climate-prioritised budget and improve the identification of climate-related expenditures.
