Male’, Maldives – The newly proposed budget submitted by the Ministry of Finance and Treasury, to the Parliament of Maldives, for the year 2021, has allocated MVR 716 million for housing projects.
Speaking at the Parliament on Monday regarding the budget, Minister of Finance Ibrahim Ameer said that one of the main priorities of the government is to solve the housing issues faced by the people of the country, due to which, the equity required to fund affordable housing units has been allocated for, in the proposed 2021 budget, which accounts for MVR 716 million.
The Minister gave a breakdown of the figure, explaining that MVR 486 million of the total MVR 716 million will go towards the national social housing project and that MVR 135 million will be spend on establishing housing units across the country, while the remaining MVR 85 million will be spent on affordable housing projects.
He further added that it is the aim of the government to initiate the implementation of the housing projects and to complete the ongoing housing projects as soon as possible so that those who are deserving receive housing without delay.
Further, Minister Ameer detailed that the 2021 budget will also spend MVR 1.2 billion towards water and sewerage projects in 169 different islands of the country and that this would be the biggest project carried out within the atolls of the country so far, explaining that it is the goal of the government to ensure that all islands of the country receive clean drinking water and have working sewerage systems by the end of the year 2023.