This is the 7483rd most frequent Japanese word.
充て
"充て" means "to allocate" or "to assign."
In this sentence, "充てる" is used to indicate dedicating or allocating something (the holiday) to a particular purpose (reading).
彼は休日を読書に充てました。
He devoted his holiday to reading.
Here, "充てる" signifies assigning or allocating resources (the budget) for a specific use (the new project).
この予算は新しいプロジェクトに充てられる予定です。
This budget is planned to be allocated to the new project.
The usage of "充てる" in this sentence showcases designating time for a particular activity (practice).