The Government of the Maldives has allocated USD 406 million for Public Sector Investment Programmes (PSIP) in the proposed state budget for 2022.
Around USD 235 million of the amount will be used to fund 431 projects currently ongoing under the PSIP. The government has also proposed to begin 287 new projects under the PSIP next year, which is expected to cost USD 87 million.
Furthermore, USD 113 million has been allocated to solve transport issues, which is 28% of the proposed PSIP budget. Around USD 43 million of the amount has been allocated for the construction of the Male'-Thilafushi Bridge.
Additionally, USD 36 million has been allocated for the development of the terminal and runway at the Velana International Airport (VIA), and USD 8 million has been allocated for the development of domestic airports The government has also allocated USD 28 million for the development of island harbours and proposed to begin 41 new harbour development projects next year.
The PSIP budget for 2022 also includes USD 1.4 million to transfer the Male' Commercial Harbour to Gulhifalhu and USD 1.9 million for the high-speed ferry services. The government has also allocated USD 62 million from the PSIP budget for water and sewerage projects and USD 60 million for environmental preservation.
Furthermore, the PSIP budget includes USD 40 million for reclamation and USD 39 million for housing projects. Funds were also allocated in the PSIP budget for projects related to health care, education, fisheries, and agriculture.