Ministry of Finance has allocated MVR 2.5 billion for new projects to be included in the government’s budget over the next three years and has asked ministries and state agencies to submit proposals for consideration under the “New Policy Initiative” framework.
According to a circular issued by the ministry, proposals for new programmes and projects to be included in the 2027–2029 programme budget must be submitted through the Bandeyri portal by 18 August.
The ministry said proposed initiatives should align with the government’s manifesto commitments and the development vision of President Mohamed Muizzu. Projects required under existing laws, regulations or agreements will also be eligible for inclusion.
As part of the budgeting process, the Finance Ministry said it will introduce Gender Equity and Social Inclusion (GESI) budgeting measures to assess the impact of proposed policies and projects on gender equality and social inclusion.
The ministry also said agencies proposing projects with environmental objectives must clearly identify them as “climate-relevant” initiatives. The measure is intended to support the development of a climate-priority budget and improve the assessment of climate-related expenditure.
Of the MVR 2.5 billion allocated for new projects during the 2027–2029 period, MVR 2 billion has been earmarked for construction-related projects. Individual construction projects will be subject to a maximum budget ceiling of MVR 500 million.
