Africa-Press – Mauritius. The Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, announced in the Budget 2022-2023, ‘With the People, for the People’, initiatives that would uphold Government’s vision of a sustainable Mauritius – greener, more efficient, more inclusive and more resilient.
On that account, a Sustainable City Scheme is being introduced for the development of a new concept of sustainable living built for people and nature in a bid to reimagine towns and villages as areas of sustainable living.
Several endeavours will be undertaken to finance the implementation of the sustainability roadmap. Hence, while a carbon credit trading framework will be prepared, an Environmental, Social and Corporate Governance framework will be developed.
Moreover, an inaugural Sustainable Bond will be issued. Moreover, an International Sustainable City Summit will be organised by the Economic Development Board (EDB) this year.
The 2022 – 2023 Budget also provides for the introduction, by the EDB, of a Transit Oriented Scheme to create vibrant, walkable and mixed-use areas within a radius of 100 metres of metro stations.
Under the Scheme, property developers will be exempted from payment of registration duty on lease or acquisition of land to develop an approved project; and will be eligible for accelerated annual allowance on ‘green technology equipment’ expenditure.
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