Chakwera pleased with World Bank Group US$2bn commitments to Malawi programs
President Dr Lazarus Chakwera on Thursday met the World Bank Group’s Country Director for Malawi, Ms. Mara Warwick as the financial institution has committed US$2 billion for the country’s various development activities.
President Chakwera said he invited the World Bank country director to express profound gratitude for the thriving partnership between my administration and the international financial institution.
“The World Bank continues to support Malawi through a range of projects and programmes in various sectors, a portfolio valued at around US$2 billion.
“Just recently, the Bank approved support of US$60 million for the rehabilitation of the Kapichira Hydroelectricity Power Plant which was damaged by Cyclones early this year,” said President Chakwera.
He said other funding commitments include the US$187 million for the Sustainable Social Resilience and Livelihoods Support Project, US$134 million for the Shire Valley Transformation project, US$30 million for Africa Centre for Excellence and the Mpatamanga Hydroelectricity Power Plant Project.
“We appreciate the support World Bank continues to give to Malawi in the ongoing negotiations with the International Monetary Fund (IMF) towards a new Extended Credit Facility that will resultantly play a critical role in our economic recovery strategy,” he said.
He said he has agreed with the Bank country director to continue engaging on all these pertinent matters as and when need arises.
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That is great news but do hope that with this amount they will purchase new transformers soon,as we have been waiting for over 6 weeks.
The USD2 billion portfolio dates back to which period?
Out of all those projects listed, only 2 are really transformational for Malawi.
The $187 million for sustainable social resilience will do what exactly? Such big moneys should be invested in infrastructure. By that I mean new power plants (not just patching up old ones), and new roads