World Bank to give Malawi $50m to rebuild after ravaging floods

Malawi has been promised $50 million  assistance by the World Bank to rehabilitate roads following last month’s devastating floods.

World Bank mission in Malawi

World Bank mission in Malawi

Finance Minister Goodall Gondwe (right) : Money will be channeled to rehabilitate places affected by floods

Finance Minister Goodall Gondwe (right) : Money will be channeled to rehabilitate places affected by floods

Finance Minister Goodall Gondwe told reporters the money will be used in rebuilding damaged roads, bridges, schools and houses that were washed away by the floods.

“I am pleased to inform Malawians that the bank is going to assist us with some $50 million that will be channeled to rehabilitate places affected by floods,” Gondwe said.

The announcement follows a visit by a World Bank mission to Malawi to assess the damage caused by the floods, which killed 176 people and displaced 200,000 others.

The high-level bank delegation met on Friday with Malawian President Peter Mutharika at Kamuzu Palace in Lilongwe .

The President said the country was facing numerous economic challenges and it was in desperate need of the donor support.

“We took leadership of this country nine months ago and for your information we inherited a number of problems. The government was almost bankrupt because most of our donor partners left after the cash gate scandal.

“As you might be aware 40 percent of our recurrent budget was from donor support and by sizing the assistance it meant hardships for the country. The Minister of Finance has tried his best but suffice to say that we need your support,” said Mutharika.

World Bank and IMF are yet to unlock budgetary support to Malawi following the Cashgate scandal where over $100 million was stolen from the public purse.

But Alinter Smith, who leads the bank’s delegation, told journalists that the bank decided to help because of the diverse impact of the flooding.

“We are very much concerned with the loss of lives and properties hence the coming in to the support,” he said.

“As a bank we say sorry for tragic loss and we promise to support in every area that we can,” Smith said.

Before coming to Malawi, these World Bank directors visited Ethiopia and will proceed to Kenya.

Follow and Subscribe Nyasa TV :

Please share this Article if you like Email This Post Email This Post

More From Nyasatimes

More From the World

9 thoughts on “World Bank to give Malawi $50m to rebuild after ravaging floods”

  1. Onnie says:

    CSOs are there to prevent development. No country has developed because of CSOS. World Bank, please use Government.

  2. Banda says:

    Which NGO ever developed a nation apart from making themselves richer?

  3. ujeni says:

    The same noble institutions are giving $100bn to Ukraine to rebuild. $50m is loans given to individuals not a Nation

  4. IKLC says:

    Bad news z always good news to some.. ma contractors adyepo tsopano..ali mweeeeeee

  5. mxii says:

    Peter Uli ndi mwayi, basi choncho chikayambapo chitukuko cha ma floods anthu azingoti peter’s development. basi naonso mavote kumabwera. opposition Ili mmadzi

  6. samson says:

    Am jst worried about cashgate in Malawi people they really tried their best to help but at the end some people they are taking advatage.

  7. It not only Malawi nde osasangalala kwambiri

  8. dadaboma says:

    I ask World bank to think carefully about their decision to give aid to mitigate the effects of floods in Malawi. They should not channel money through govt (Goodall Gondwe, APM, etc) but rather NGOs. Malawi govt has not sealed its leaky bucket and will likely abuse this money. DPP is a gang of despicable thieves. They started cashgate which is hurting us badly and they cannot be trusted.

Comments are closed.