Mutharika pleased with AfDB’s increase of financial support to Malawi
President Peter Mutharika said on Tuesday he is pleased with the announcement by African Development Bank (AfDB) Group President Dr Akinwumi Adesina about the increase of financial support to Malawi from K212 billion (US$310million) to K400 billion US$578million during the 2016/17 financial year.
The AfDB has made a further commitment of $1 million immediately for Malawi to purchase food for its people who are food insufficient and an additional $7 million for rapid humanitarian assistance and response and $28 million for various projects across the country.
AfDB president said in the commercial city of Blantyre after holding an audience Mutharika that the support will mainly go towards youth empowerment, energy and Agriculture.
“It was the role of the bank to support programs that can transform lives of people in member countries across Africa including Malawi,”he said.
He said Africa is still growing therefore needs more support to continue developing.
President Mutharika commended the bank for the support it renders to programs that are within his government’s framework, the Malawi Growth and Development Strategy (MGDS).
“ I am particularly pleased to note that the Bank continues to be one of the most important development partners for Malawi,” said Mutharika.
Mutharika said AfDB remains “a true friend and a development partner” for Malawi as witnessed in previous and present support.
He said his government recognizes the important role the bank plays in supporting countries including ideas it gives to member states.
Mutharika said government is implementing two major reforms—Public Financial and Economic Management and Public Service—which he described as crucial to attaining efficiency in service delivery.
“We are facing many challenges but they will become our opportunities,” said Mutharika.
He said Malawi’s dream to wean itself from aid dependence will not be realised without support from institutions such as AfDB.
The bank said it is committed to supporting various reforms in agriculture and infrastructure development to help Malawi achieve economic independence.
However, while in the country, AfDB Group President Adesina will hold discussions with government officials, Civil Society Organizations (CSO’s) and will also visit some projects funded by the bank
The AfDB Group is a multilateral development finance institution comprising AfDB, the African Development Fund (ADF) and the Nigerian Trust Fund. Its shareholders include 54 African countries and 28 non-African States.
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let us wait and see how that aid will help us
AfDB is a development Bank a branch division AFD is what Malawi is a member, ADF loans African countries money for specific projects only including agriculture, infrastructure like roads and electric for lasting effects to better Malawi ADF charges a small fee of 3/4 of 1%, plus 1/2% total of 1 1/4% minimum on the loan REPAYABLE within 50 years Not the same as donor Aid from Brition, USA, Japan and many other countries working to develop and assist Malawians for free. All they ask that you not cashgate their donations. ADF respectly does not concern themselves with cashgate, they… Read more »
Thanks be to God. God bless Malawi to attain the much needed financial independence. Instill in us o Lord the utmost creativity to take our economy ahead and ahead, and for the benefit of every caring and hardworking citizen. God bless Malawi.
Nonse pamenepo kumwemwetera. Kuthandiza amfumu kuledzera. Zopusa. Is this a loan or a donation? We are a begging country and we do not want the poor to beg in the street!
This is good development! Make the most of the money so that Malawians should rejoice!
or 400bln should be given to u taxs will u stop ? nothing u can do they jast adding cashget to u and ur minst boma lopanda chitukuko losaukitsa athu tayendani mmidzi muone athu akuvetsa chisoni kodi mudzaloza chiyani? kulimbira chithu choti sungakwanitse
Any household that takes delight in handouts from well wishers let alone surviving on loan is hopeless. And here is the low ptofile president who thinks this is an achievement. My foot!
Shit mbuzi za anthu kusekelera kut Muba zambiritu,Kupusa!