Tuesday 19th Oct 2021
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Ministry of Finance

State Receives Only 17% of the Forecasted Grant Aid

Figures published by the Ministry of Finance show that from the grant assistance that was to receive this year only 17% have been received.
The ministry’s weekly figures on the state’s expenditure and revenue show that up to August 26th as grant assistance Maldives received an amount of MVR 387.1 million.
However, in the year 2020, the budget forecasted that this year the government will receive MVR 2.2 million as grant assistance. Therefore, the amount received so far is MVR 387.1 million which is only 17%.
Authorities which were forecasted to receive grant assistance
From other countries – MVR 1.5 billion
Form organizations that include countries across the globe – MVR 5.7 million
Assistance for projects – MVR 637 million
Although Assistance for new projects MVR 637 million was forecasted to receive last year by 5th August 2021 the amount received is MVR 475.7 million leading to not being able to continue with the projects.
While the amount of grant assistance receive is quite less the government emphasizes that they are receiving a large amount of assistance. Last year President Ibrahim Mohamed Solih stated that the government received grant assistance of USD 772 million. However, last year only USD 55 million of grant assistance was received.