Chithyola excited as Malawi gets additional K62bn grant from World Bank to improve service delivery
World Bank’s International Development Association (IDA) has approved a 35 million dollars (K61.28 billion) additional grant to Malawi for the Governance to Enable Service Delivery (GESD) Project.
In a letter to Finance Minister Simplex Chithyola Banda, IDA Executive Director Floribert Ngaruko said the objective of the additional financing is to strengthen Local Authorities’ institutional performance, responsiveness to citizens and management of resources for service delivery.
Ngaruko added that the resources will replenish a financing gap created by the activation of a Contingent Emergency Response Component (CERC) in December 2022 and no additional activities will be added.
In an interview, Chithyola Banda said the additional financing signifies the degree of confidence and trust donors have on this country
“We, as a ministry, are working so hard to change the economic malaise into economic prosperity and these financial injections spell that economic recovery is bearing fruits,” Chithyola Banda said.
The International Development Association (IDA) is the part of the World Bank that helps the world’s low-income countries. IDA’s grants and low-interest loans help countries invest in their futures, improve lives, and create safer, more prosperous communities around the world.