K9bn for students loans: Education get lion’s share of Malawi budget

Ministry of  Education, Science and Technology has  been given a lion’s share in the 2019/20 National Budget presented by the Minister of Finance  Joseph Mwanamvekha in Parliament on Monday with K172.8 billion allocated from K142,2 billion in the last fiscal year.

Described by educationists as action-packed budget for the sector, Mwanamvekha announced that K9 billion has been allocated to provide loans to needy students studying in the public and private universities throughout the country.

He said the money allocated for the students loans is an increase from K8 billion that was budgeted during last fiscal calendar.

Mwanamvekha said Treasury will work closely with Ministry of Education to ensure that loans are given to “bonafide needy students”.

He added: “A mechanism has also been put in place to involve Students Union bodies in the various universities to help us identify the qualifying students for support.”

Mwanamvekha said the education overall budget is an increase of 21.5 percent from last year’s allocation, representing 10.3 percent of the total budget pegged at K1.7 trillion and is 2.7 percent of gross domestic product (GDP).

He said this is due to increased allocation for public universities and sector’s development projects.

The country’s purse keeper disclosed that government will complete the construction of three teacher training colleges for primary school teachers in Mchinji, Rumphi and Chikwawa “and continue the construction of 14 new primary schools in urban centres.”

The Finance minister added that government will construct the Eastern and Southern Africa Higher Education Centre of Excellence with a loan from the World Bank.

Mwanamvekha said government will continue the construction of Mombera University in Mzimba, carry out expansion of Domasi College of Education in Zomba with support Japanese aid agency Jica.

He also said government will rehabilitate Mzuzu University Library and carry out expansion works at the Polytechnic, Chancellor College and Lilongwe University of Agriculture and Natural Resources (Luanar).

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