The Bougainville House of Representatives has approved the 2024 Supplementary Budget, marking a significant adjustment to reflect the region’s evolving policy landscape and current needs. Presented by Hon Robin Wilson, the ABG Minister for Treasury and Finance, the budget has been increased from K761,186,000.00 to K776,290,100.00.
Minister Wilson described the supplementary budget as more than a financial document; it represents Bougainville’s strategic goals, resilience, and commitment to its development and prosperity as it moves toward greater autonomy and eventual independence. The main feature of this budget revision is the reallocation of K200 million, specifically earmarked for the annual Restoration and Development Grant (RDG) and RDG arrears.
Of the total K95.9 million allocated annually for the RDG, all funds are distributed across 47 projects, including ongoing ones. This allocation includes K24 million for nine projects under the President’s Commitments and K9.94 million for initiatives decided upon by the Bougainville Executive Council, totaling K33.94 million. Furthermore, K25.96 million has been designated for new requests from various departments, with the remaining K36 million directed towards seven projects originally pledged by the ‘former’ Prime Minister.
A significant policy shift occurred during the last Joint Supervisory Body meeting in May, where it was agreed to phase out the Prime Minister’s Commitment and integrate these funds into the constitutionally guaranteed RDG. This adjustment aims to enhance transparency and accountability for national government projects in Bougainville, allowing for more direct funding and independent management of local policies and priorities by the ABG.
Additionally, of the K104.1 million allocated for RDG arrears, K59.3 million is dedicated to regional and headquarters projects, while K44.8 million is set aside for district and constituency projects across Bougainville’s four regions, consistent with allocations listed in the initial 2024 ABG Budget.
Minister Wilson stressed that the management of these funds would focus on transparency, accountability, and efficiency, adhering to strict governance standards to ensure appropriate resource allocation and utilization. The implementation of this supplementary budget is scheduled to begin in July of this year.
