Parliament has approved a bill allowing government to borrow K20 billion for the rehabilitation of Benga-Nkhotakota- Dwangwa section of the M5 road.
Legislators from both sides of the isle unanimously supported the bill which seeks to authorize the Minister of Finance, on behalf of the Government of the Republic of Malaŵi, to borrow from the OPEC Fund forInternational Development to finance the rehabilitation of the most dilapidated M5 road.
Minister of Finance Sosten Gwengwe Minister of Finance said the project will help to enhance competitiveness and socio-economic integration between Malawi, Mozambique and Tanzania through Nacala and Ntwara Corridors.
According to Gwengwe, the project will see the road being rehabilitated as it is currently standing as death trap to road users.
Gwengwe has since urged people not to panic with continued loans that the country is having arguing that roads and other infrastructure development are key to spur country’s social economic development.