Foreign Aid budget to be ready by the end of the year – Government

January 13, 2021 – His Mount Vema Majesty’s Government announced today that the Kingdom of Mount Vema will have its foreign aid budget ready by the end of the year, to provide financial assistance to other countries in need of humanitarian aid, funds for infrastructure development, disaster relief, healthcare and student scholarships.
 
The terms and conditions of the aid will vary by country and purpose, some will be given in form of a gift, grants, low or no interest loan, or a combination.  Mount Vema will also expect its aid use to be mainly for budget support that can be directly channelled into the financial system of the recipient country. A major proportion of the aid will be tied, mandating that a receiving nation spend on products and expertise approved by Mount Vema.
 
The Mount Vema development aid will have a strategic value, specially with regards to poverty reduction through job creation, healthcare, and general improvement of living conditions that can have a positive effect on global security and economic growth.