Minister Zameer also highlighted ongoing efforts to seek assistance from neighboring countries to help repay existing debts.
Maldives has received USD 23 million (MVR 354 million) in free aid so far this year, said Finance Minister Moosa Zameer.
Addressing the Parliamentary Supplementary Budget Review Committee, Minister Zameer said the Vilimale' project will include an additional USD 100 million in aid.
"In addition, President Dr Mohamed Muizzu is progressing towards securing a USD 40 million grant as a result of recent diplomatic efforts," he added.
Minister Zameer also highlighted ongoing efforts to seek assistance from neighboring countries to help repay existing debts.
This year’s budget allocated MVR 1.3 billion in grants, with the supplementary budget adding MVR 199 million, raising the target to MVR 1.5 billion by year’s end.
Auditor General’s Office noted that while MVR 1.5 billion in free grant was projected, only MVR 630 million has been received so far. Failure to receive the amount marked as free aid would further exacerbate challenges in seeking financing.
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