Finance Ministry publicizes policy for foreign aid to councils
Councils must deposit foreign aid to the public account of Maldives Inland Revenue Authority (MIRA) after exchanging the currency to Maldivian rufiyaa
Office building for Ministry of Finance
The Ministry of Finance has publicised the policy for foreign aid to councils.
According to a circular released by the Ministry of Finance, councils must deposit foreign aid to the public account of Maldives Inland Revenue Authority (MIRA) after exchanging the currency to Maldivian rufiyaa. Further, councils must submit the relevant forms, documents and a copy of the agreement between the council and the donor to the ministry as well.
Upon submitting the required documents, the funds will be deposited to the council's business area and bank account said the ministry.
The 2020 state budget has arranged a block grant of MVR 1.6 billion for island council as part of the government's effort to financially empower island councils. As such, MVR 134 million has already been dispensed to island councils.
