Chakwera Secures $250.8 Million Grant from World Bank to Raise Access to Electricity from 25.9% to 70% by 2030
In a groundbreaking move for Malawi’s development, President Lazarus Chakwera has successfully secured a $250.8 million grant from the World Bank under the Accelerating Sustainable and Clean Energy Access Transformation in Malawi (Ascent Malawi) Project. This significant investment will transform the country’s energy landscape, with a bold target to raise electricity access from the current 25.9% to 70% by 2030.
The grant, signed during a ceremony at the Julius Nyerere International Convention Centre in Tanzania, marks a milestone in Chakwera’s commitment to addressing Malawi’s chronic energy challenges. The World Bank’s Managing Director, Anna Bjerde, expressed her admiration for the progress made, noting that Malawi had doubled its electricity access from 12% to 25% in just four years. “This is a remarkable achievement. Looking ahead, reaching 70% access by 2030 is ambitious, but very achievable,” Bjerde said.
For Chakwera, the grant represents not only a victory for his administration but also the fulfillment of a personal mission. Reflecting on his upbringing in a village without electricity, Chakwera shared his deep commitment to ensuring that no Malawian is left behind. “I grew up in an area where electricity was a luxury, and I made it my personal goal to change that for all Malawians,” he said. “This funding from the World Bank is a gift to the Malawian people and an endorsement of our vision to use these resources effectively.”
The grant is part of a broader effort to create lasting change in Malawi, with Chakwera’s leadership at the helm. The Ascent Malawi Project will not only provide clean and sustainable energy but will also create numerous economic opportunities, particularly for young people and women. With more reliable electricity, businesses will thrive, and new enterprises will emerge, from small-scale ventures like barbershops and salons to larger industries needing stable power to scale up production.
This energy initiative promises to have far-reaching impacts on Malawi’s economy. As electricity access improves, so too will the quality of life for millions of Malawians. Rural areas, which have long been left in the dark, will experience a dramatic shift as power reaches homes, schools, hospitals, and businesses. Farmers will benefit from irrigation systems powered by electricity, boosting agricultural productivity and food security.
In addition to the social benefits, the increase in electricity access is expected to attract foreign direct investment (FDI), which has been hindered by unreliable power supply. International companies will now have confidence in Malawi’s energy stability, leading to more factories, hotels, and large-scale businesses setting up shop, which will create thousands of jobs for the youth and stimulate the economy.
Furthermore, the grant will play a key role in addressing Malawi’s foreign exchange issues. The influx of investment and the boost to the country’s manufacturing sector will improve foreign currency reserves, leading to greater economic stability and enabling the government to reduce debt and improve public services, such as education, healthcare, and infrastructure development.
Chakwera’s ability to secure this funding from the World Bank is a testament to his leadership and the trust the international community has in his administration. The project is not just about providing electricity—it is about transforming the entire economy, empowering the youth, creating jobs, and lifting millions out of poverty.
By 2030, as a result of Chakwera’s vision and leadership, Malawi will not only be a beacon of energy access in Africa but also an emerging economic powerhouse, thriving on sustainable, clean energy and the limitless possibilities it brings.
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