Britain injects £30m to Malawi economy
Britain has approved a new country assistance plan for Malawi with the release of urgent funding of £10 million for the Malawi Health system and £20 million to help stabilize the economy which has been rocked with currency devaluation by alsmot 50 percent.
“The International Development Secretary has agreed with the Governor of the Bank of England for a British economic official to be drafted in to help the Government of Malawi deal with the effects of devaluing the kwacha,” reads the statement released jointly by British High Commission and Department for International Development ( DFID) in Lilongwe
The development comes after President Joyce Banda took a stand to normalise relations with the UK which were strained by late president Bingu wa Mutharika.
Meanwhile, Andrew Mitchell, the UK’s international development secretary, is to make an official visit to Malawi at the end of the month to meet President Banda and discuss Her Excellency’s priorities with her directly.
“I am encouraged by President Banda’s early progress in office. She has put the people of Malawi right at the centre of her Government’s programme and she is listening to the sensible advice from the IMF about how to get the economy back on its feet,” Mitchel said, according to the statement.
President Banda has since welcomed the economic recovery support from London and that she looks forward “to welcoming the Secretary of State for International Development to Malawi in the near future and to discussing the future of UK aid in Malawi with him.”
Since Banda took over power on April 7, following the death of dictator Mutharika, Lilongwe And London announced a resumption of diplomatic ties and the forthcoming appointment of a new high commissioners.
Banda appointed career diplomat Bernard Sande as High Commissioner to London. UK is yet to name its envoy to Lilongwe.
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