Govt reviews MEDF loans to excite youths: Increases allocation from K15bn to K40bn

Government has reviewed it allocation to Malawi Enterprise Development Fund (Medf) for youth and women from K15 billion to K40 billion.

Finance Minister Mlusu being treated by MP Ulemu Msungama
Govt reviews MEDF loans to excite youths: Increases allocation from K15bn to K40bn

Presenting the four month provisional budget in Parliament on Tuesday, Finance Minister Felix Mlusu says the Medf fund will later be increased to K75 billion.

“Our focus in this programmes is to ensure we achieve a direct impact towards the lives of ordinary people,” he said.

The announcement comes amid reports that the loans were only given to members of Democratic Progressive Party (DPP) during the former President Peter Mutharika’s rule.

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Tizanka
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Tizanka

Kkkkk same DPP initiatives, eish

Malawi belong to the citizens
Guest

Tonse alliance government mwayamba bwino.Nanga chochi DPP was just thinking only for DPP diehards.Munthalika was evil than the devil himself.

Mbonga Matoga
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Mbonga Matoga

I don’t have any problem with increasing the MEDF fund, but what I have a problem with, is the lack of mechanisms to vet people borrowing the money and successfully collect the money from the would be borrowers.

Previous experience has shown that money is borrowed but never returned which means the money is no longer a revolving fund.

I hope the Tonse alliance government has put mechanisms in place to make sure that the money can be collected in fully to help future borrowers

Nyoloka
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Nyoloka

Your eyes only sees problems, change the lens please

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