The proposed state budget for 2024 has allocated USD26 million for the Fushidhiggaru Falhu reclamation project.
The proposed state budget has allocated USD558 million for the Public Sector Investment Programme (PSIP), of which USD71 million is dedicated to new projects and USD402 million to 449 ongoing projects. Notably, the largest allocation of funds for the commencement of new PSIP projects is reserved for the Fushidhiggaru project.
President-elect Dr. Mohamed Muizzu pledged to complete the Fushidhiggaru project as part of his initiative to guarantee housing for all citizens. The project involves the reclamation of 1,280 hectares in Fushidhiggaru Falhu and the allocation of 11,000 land plots and 20,000 flats from the area, which would be connected via a bridge and the high-speed ferry service.
Moreover, the proposed state budget allocated USD65 million for the Velana International Airport (VIA) expansion project and USD61 million for the development of the Thilamale' Bridge under the Greater Male’ Connectivity Project (GMCP). The project is scheduled to be completed next year.
Furthermore, the PSIP budget includes USD208 million allocated for improving the travel and transport system, USD104 million for land reclamation projects, USD71 million for environmental protection, USD42 million for water and sewerage projects, and USD37 million for road development. It also includes USD34 million for the Gulhifalhu port project, USD30 million for the development of airports, USD29 million for the development of the health sector, USD26 million for housing projects, and USD15 million for the development of the education sector. The budget includes other infrastructure development projects to establish and improve public services.