The UK Department for International Development (DFID) has announced emergency budget support for the Government of Malawi.
The UK is providing MK10.6 billion (£20m) to the end of this financial year, 2012-2013.
Making the announcement, Secretary of State for International Development, Justine Greening, said:“President Banda’s government has taken some tough but necessary decisions to stabilise the economy and create conditions where growth can flourish. In recognition of these efforts and the difficulties that Malawi is facing, the UK is providing emergency funds for this financial year.”
Greening added:“It is vital Malawi stays on course with its reforms so that stability can be restored and the economy can thrive.”
The UK also noted the importance of continued progress on areas such as governance and building international confidence through good management of public finances, which underpins development assistance.
The UK suspended budget support in July 2011 after the Government of Malawi repeatedly failed to address UK concerns over economic management and governance.
DFID will spend an average of £93 million per year in Malawi until 2015 to help implement the Malawi Growth and Development Strategy (MGDS).Follow and Subscribe Nyasa TV :