CAFI meets to discuss priorities for 2020

Tue. 03 of September of 2019, 12:52h

The Administrative Council of the Infrastructure Fund (CAFI) met on September 3, 2019 at Government Palace in Dili to discuss priorities for 2020 and for the preparation of the 2020 General State Budget (OGE).

The meeting, organized by the Secretariat of Large Projects, was attended by the members of the Government that make up the CAFI, holders of the briefs related to planning, finance and public works and officials of the National Development Authority (ADN) pf the National Supply Comission (CNA) and ministerial departments with ongoing IF projects.

The fiscal ceiling for OGE 2020 was set at 1.6 billion US dollars and was determined to fulfill the three central objectives for the 2020 OGE - achieving an annual growth rate of more than 7%, decreasing the poverty rate by 10% and lowering the unemployment rate. The OGE 2020 is being prepared on the basis of five fundamental principles, fiscal sustainability in the medium and long term, alignment with national priorities, budgetary execution capacity, the absorption capacity of the local economy and the quality of Budget.

The IF was established in 2011 and is a financial instrument that aims to support strategic projects to enhance Timor-Leste's economic growth by facilitating the development of infrastructure and provisioning of financial sources for road and bridge projects, airports and water and energy supply, education and health, tourism and other large projects with a budget of more than one million dollars.

The sustainability of the IF is directly linked to the strategic priorities of economic development, social and environmental impacts, aligned with the Sustainable Development Objectives and the Strategic Development Plan 2011-2030.

Following the creation of the Infrastructure Fund, the Government established the Administrative Council of the Infrastructure Fund (CAFI) as the executive body with authority over the decision-making process for all matters related to Infrastructure Fund projects. The CAFI also provides political guidance to sectoral ministerial institutions or departments.

The Major Projects Secretariat provides technical and administrative support to CAFI, in close coordination with DNA, CNA and ministerial departments. It also assumes responsibility for evaluation and feasibility studies of projects, providing recommendations on budget availability as well as funding options and executing payments based on DNA recommendations.