“Mise au Point” following article in l’express of 23 May 2018

Rs 1.9 billion Unaccounted for in the Build Mauritius Fund

The Build Mauritius Fund was created under Finance and Audit (Build Mauritius Fund)
Regulations 2013 in December 2013 to support the financing of infrastructure projects,
including road, transport, utilities, and development schemes, implemented at the level of
several Ministries/Public Bodies.
It was operated under the purview of the Ministry of Finance and Economic Development.
In a reply to a Parliamentary Question in April 2017, the House was informed that there
was a balance of Rs 5.3 Billion in the Build Mauritius Fund.
Since that date, a further amount of Rs 1,074 Million was credited to the Fund.
Out of the available balance of the 6,396 Million, an amount Rs 556 Million was disbursed
during the period April 2017 to November 2017 in respect of projects. Details are at Annex.
During that same period, an amount of Rs 2 Billion was transferred as to the Consolidated
Fund as repayment of outstanding loan to Government in November 2017.
It should be recalled that on the setting up of the Build Mauritius Fund on 23 December
2013 following budget measure announced in the Budget Speech of 2013 by the then
Minister of Finance, a loan of Rs 4.3 Billion was granted from Consolidated Fund to the
Build Mauritius Fund.
The repayment of the loan has been as follows:
 First repayment of Rs 300 Million in October 2015;
 Second tranche of Rs 2 Billion was converted in a grant, following approval by
Parliament through the Supplementary Appropriation Act (2015-2016) (No 2) Act
2017 in June 2017; and
 The third and final tranche of Rs 2 billion was repaid in November 2017, prior to
the closure of the Build Mauritius Fund in December 2017.
As announced in the Budget Speech 2017-18 at paragraph 338, all revenues and expenses
of the Build Mauritius Fund will be consolidated in the national Budget, i.e the
Consolidated Fund.
Accordingly, on the closure of the Fund in December 2017, the remaining balance of
Rs 3.84 Billion has been fully credited to the Consolidated Fund.
23 May 2018
List of Projects financed under BMF during the period April to December 2017
Million Million
(Rs) (Rs)
Road and Land Transport Projects

- Preparation of Jumbo/Phoenix and A1M1 Bridge) 51

- Repair of Terre Rouge - Verdun Road 179

- Ring Road Phase I remedial works 35

265

Preparation of Metro Express Project 24

Water Sector Projects

- Completion of Bagatelle Dam Construction 148

- Replacement of old and defective pipes 70

218

NDU Projects – Construction and upgrading of Drains 35

Water Tank Scheme 12

Bus Modernisation Scheme 2

Total 556