Parliament passes US$150.1m loan bill for electricity expansion
Malawi Parliament has passed a US$150.1 million loan bill, authorizing government to borrow from the International Development Fund for access to electricity project.
The money, according to the Minister of Finance, Economic Planning and Development Joseph Mwanamvekha will be used towards the implementation of the Malawi Electricity Access Project which aims to increase access to electricity in Malawi.
“The project has three components looking into grid electrification, off grid market development fund and technical support,” Mwanamvekha said.
The bill was passed unanimously.
Meanwhile, the House has also authorized the government to borrow 80 million Euros and 15.5 million Euros from the European Investment Bank to rehabilitate the Kamuzu International Airport turn off in Lilongwe, Mzimba turn off road and Kacheche-Chiweta roads.
This is in additional financing on top of 43 million Euros grant from the bank for the project.
The first section will be the 102km from KIA turn off to Kasungu, followed by Kasungu to Jenda then Jenda to Mzimba turn off and finally Kacheche to Chiweta, according to Mwanamvekha.
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Malawians,the $150.1million for electricity expansion,is not going to that purpose,but in Muthalika’s Bank Accounts and another portion,to his puppets.Wakeup brothers and sisters Muthalika has found that Malawians are vulnerable to any economic mischief.Banda,had left US150m in one of smart banks abroad leaving Malawians in limbo.The fact of the matter is that Bingu and his brother Mathanyula,have exploited millions of dollars from sleeping Malawians and yet some of them are still supporting these corrupt millepigs.WAKEUP ACHIMWENE,the world is small and do not hate Northerners for they are not in high positions like MBEWA-EATING LOMWE.Really,is Mulenjini educated enough to run our country?Shame… Read more »
For once let’s hear Parliament have a long session of debating how previous loans have been used plus results before new loans are discussed and agreed! Parliament should not make approving loans as thier main business at the expense of ensuring prudent management of financial resources through clear accountability to the satisfaction of the public! WE NOW DEMAND THIS SERVICE and CHANGE! No more bootlicking approaches
What are we healing here?? Just a week or two weeks back we were told that Malawi has got. Grant of $57 million for interconnection from the World Bank. Why the loan then? Malawi takes too many loans to keep it in a perpetual poverty trap because of clueless DPP President, myopic ministers and blind followers in the form of members of Parliament who do not know thier purpose for being representatives of the people. Malawi MPs get too excited with allowances and loans to forget thier duties and simply become rubber stampers!!! SHAME!! MPs please know that Malawi is… Read more »
They’re simply TOO THICK to understand economics. They don’t realise that they are building debt for the future generations. We really need to have an educated chamber not the likes of this Mangochi girl who can not even construct a sentence. The country is doomed.