The Government has allocated a total of SB$307.4 million in additional funding for development projects under the resources sector in the 2021 national budget.
Minister of Finance and Treasury, Harry Kuma said the budget would be geared towards funding development projects and activities to;
With this support, the government promotes more value added industries and encourages investments that adds value from our resources.
“Despite the constraints imposed by the country’s smallness, dispersed mass, and remoteness, Solomon Islands has the economic potential to grow given its relatively large natural resource endowment. Generating growth with equity requires political will and stability, strong ethical leadership and sound resource and economic management,” Kuma said.
Consistent with the DCGA Policy Redirection programme, budget allocations towards the resource sectors has been increased in 2021 with SB$10.6 million for the Forestry Sector and SB$6 million for Environment related programmes.
The Ministry of Mines, Energy and Rural Electrification has been allocated SB$11.8 this year.