Mwanamveka says new IDA programme will support 100 firms

Parliament has approved Bill Number 7 of 2026, clearing the way for Malawi to draw down a US$50 million grant from the International Development Association to support an ambitious overhaul of the country’s export value chains.

The legislation, tabled by Finance Minister Joseph Mwanamveka, ratifies a financing agreement for the Transforming High Potential Resilient Value Chain Project, a five‑year initiative scheduled to run from 2026 to 2031.

The programme is designed to strengthen firms operating in Malawi’s export sector by widening access to finance and improving their capacity to meet international standards.

Mwanamveka said the project will support both emerging and established exporters through an “export readiness” scheme offering matching grants, assistance with international certification, and funding for approved investments.

Around 100 firms are expected to benefit.

Beyond direct support to businesses, the project will channel technical assistance to ministries responsible for industrialisation, trade, business and tourism.

The aim is to bolster trade policy implementation and establish a transparent, rules‑based system for decisions on export restrictions — an area long criticised for inconsistency.

Government officials say the initiative is expected to strengthen the export sector, expand access to finance and help create more formal jobs, positioning Malawi to compete more effectively in regional and global markets.