Saturday 15th Jun 2024
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Ministry of Finance

Govt Fails to Receive Forecasted Grant Amount

This year Grant Assistant did not reach the estimated value.
In the year 2020, the budget forecasted that this year the government will receive MVR 2.2 billion as grant assistance. However, by September 16 the amount received so far is MVR 392 million. Figures published by the Ministry of Finance show that from the grant assistance that was to receive this year only 17% have been received.
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. This year by 16th September 2021 the amount received is MVR 957 million. However, last year also estimated amount of grant assistant was not received.
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.
As President Solih and Government officials keep on traveling to various countries on numerous occasions the government claims that the objective of these trips is to procure foreign grant assistance.