Chakwera says World Bank’s K60bn is concessional loan to Malawi not free money

Leader of Opposition in Parliament Lazarus Chakwera has said Malawi government should not give “a wrong impression” that the World Bank’s$80 million  (about K60 billion) general budget support to the county is aid but it is a loan.

Chakwera: World Bank support an act of mercy

The Malawi Congress Party (MCP) president who described the resumption of budget support by the World Bank as an act of mercy, told parliament that when government benches  stood in standing ovation to support the budget support, the opposition “felt vindicated that the donor era is not over. “

Chakwera, however,  said the Democratic Progressive Party (DPP)-led government should not give a wrong impression to the general public that this US$80 million is free money “when the truth is that it is a loan. “

He said: “So, while DPP-led government wishes to call it a budgetary support, we should rather call it a concessional loan.”

Chakwera said what the World Bank has done is an act of a mercy and government cannot afford to abuse public funds this time.

The MCP leader also pointed out that there is a misleading statement in the President Peter Mutharika’s State of the Nation Address claiming that when he took over government, the quality of life for Malawians was at its lowest, saying in actual fact all the statistics are showing that the quality of people’s lives is lower today than ever before.

“Poverty head count remains about 50 per cent and the over poor population is getting larger. Unemployment levels are worsening with teachers staying for over two years after graduating before being absorbed into the system.

“Those graduating from the universities stay over three years on average without being employed. The minimum wage is below US$1 per day. Salary increments are way below inflation,” said Chakwera.

Chakwera said poverty us still a vicious circle today.

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Pension Nenereko
Guest

Blinded DPP gurus cannot understand what Chakwera is saying. SAME!!!!!!!!!!

Joe
Guest

Bullhead for those who dont appreciate opposition. Chakwera you are doing good. Leave these ignorant educated ppl. Typing here as if you are wise. Be smart loan is always good potenga. Tizalila pobweza. Muthalika be smart

baba kunta
Guest

Mr chakwela your very pathetic. Leave the party to the competent people. You need alot of time to learn.

Bilimankhwe
Guest

Chakwera Chakwera you think this is church offerings
You are completely confused you will never rule this country .yoy think we are fools like you. Mcp guys you are not giving this fallen pastor good advice. He is still making blunders.
Over my dead nose Chakwera will never rule this country.

Anonymous
Guest

I really don’t understand how pastor Chalmers think for instance let’s say someone come at your house to ask for a loan it’s obvious he will say can you or may you help me please some money I will pay you back when I get it so a loan it’s also a help , help it’s also a loan get it pastor Chakwera

jah man
Guest

Yes they have to be clear there becouse ngongoleyo obweza

Achimidzimidzi
Guest

If the money will be released, then I will conclude that World Bank is not disciplined and stupid.
Why should World Bank burden Malawians with a personal loan. Who approved this loan? and for what?

This government has never been thoughtful nor accountable when handling our resources. As of now we still have a number of unresolved cases of corruption. eg The K577b, ESCOM, MERA, and other untouchable politicians..

GERALD WATSANO WHITE
Guest

hahahahhahahahha a man of fault a man of jealous a man of evil [email protected] my HEAVEN Father can you allow this Man in 2019 to rule this country so that His liars be prevail @ we have tired with his lia i know we all your sons and daughters but this kind of evil is tiresome @ i also know MUNTHALIKA has its fault but give Him Wisdom to realize His faults so that MALAWI WILL SING A SONG OF GLORY

Imbwa
Guest

Your Mutharika is the worst thing that ever happened to this nation, I bet. JB left this nation in a much better statet than now

Rift Valley
Guest

I bet DPP Gurus are salivating at the thought of billions from the World Bank, waiting impatiently how they will manipulate the Directorate of Public Procurement, the ACB, NAO etc. Well, I am sorry to disappoint you. The loan is coming with stringent controls.

KARONGA
Guest

Mr be humane, stop commenting on something you do not understand because we are not interested in your ignorance. What is not clear that the money is not a gift but a loan? DPP govt is changing the language as if World Bank has just given Malawi that money, so what are you saying? DPP operative.

wpDiscuz

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