World Bank grants US$12m for Maldives public finance management
The finance minister announced plans to publish monthly income and spending data.
01 Aug 2018, 9:00 AM
The World Bank has approved a US$12 million grant and credit to help improve the efficiency of the Maldives public finance management.
The four-year project agreement was signed in Malé on Tuesday by Dr Idah Pswarayi-Riddihough, country director for Sri Lanka and the Maldives, and Finance Minister Ahmed Munawar.
Munawar told reporters at the ceremony that the government will start publishing monthly details of income and expenditure with commentary before the end of the year.
According to the World Bank, the additional financing will “help improve planning and budgeting, debt and cash management, financial reporting, procurement, and State‐Owned Enterprise monitoring and oversight.”
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