Malawi signs financing agreements with Word Bank

Malawi government has signed financing agreements aimed to enhance the Shire Valley Transformation Programme and Agriculture Commercialization Project in the country.

Pen to paper: Finance Minister Gondwe signs the documents with Workd Bank official Miss Bella Bird

Speaking during the signing ceremony on Friday at the Ministry of Finance offices, Capital Hill in Lilongwe, World Bank country director for Tanzania, Malawi, Burundi and Somalia, Miss Bella Bird said their organization is committed to help boost various sectors of agriculture in African countries.

“Word Bank is passionate about increasing the diversity of products and financing in agricultural sectors in Africa including Malawi,” said Bird.

She added that, World Bank is focused to extend irrigation farming in order to raise productivity among small scale famers in Shire Valley.

According to her, their organization has budgeted USD160 million for the government of Malawi to help support Shire Valley transformation program and agricultural commercialization project.

“We have put a lot of money aside to be used for the two major projects and this is the latest project that World Bank has ever prepared in Malawi for the first time,” she explained.

She said 300 farming cooperatives in the country will benefit with the project noting that this would ease access to international markets by the farmers in the country. She further applauded the country’s leadership for introducing the two projects.

Speaking at the same event, the Minister of Finance, Economic Planning and Development, Goodall Gondwe thanked World Bank for helping the country in the transformation and commercialization projects.

“World Bank has done a great thing as the government of Malawi is working on transforming projects in different sectors in the country,” said Gondwe.

He said this would help bring more agricultural factories in the country which will subsequently help create more job opportunities for the youth.

He also said the factories would help add value to the agricultural produce throu the manufacture of cooking oil and peanut butter among others.

Gondwe urged the general public to join hands in order to bring the two programs to fruition

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4 years ago

Very irritating. The writer can’t spell world. Sukulu yake iti?

4 years ago

To the James Mansueto of Inc. magazine. Ex editor from More magazine Brette Polin recently got involved in dangerous business with crazy CBS anchor Otis Livingston to steal money from Inc. magazine employees bank accounts. Never trust Brette Polin and Otis Livingston they nothing but crime!!!!!!!!!!!!!

Pension Nenereko
Pension Nenereko
4 years ago

A Gondwe icho mukufuna ndi chiyani? Mwakula mufera muofesitu kapumeni !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

4 years ago

Financing agreements. Are these loans or grants? just agreements of 160m USD what agreements. but this at least is a worthy course

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