Standard Bank Malawi calls for prudence in $460mil Global Fund

Standard Bank has urged local partners of the Global Fund to adhere to financial discipline and transparency in the management of a U$460 million package the Global Fund has granted Malawi to fight HIV/Aids, Tuberculosis and Malaria.

Standard Bank’s Head of Risk Kondwani Mlilima: Prudent management of the grant holds key to unlocking more resources and saving lives affected by HIV/Aids, TB and Malaria

Health Minister Atupele Muluzi and Finance Minister Goodall Gondwe officially signed the grant agreement with the Global Fund’s representatives in Lilongwe today.

For its part, Standard Bank is the Global Fund’s financial services partner in Malawi and other African countries where the fund has interventions.

Speaking at the opening of a Financial Education training for Global Fund’s local implementing partners ActionAid and World Vision in Lilongwe, Standard Bank’s Head of Risk Kondwani Mlilima said prudent management of the grant holds key to unlocking more resources and saving lives affected by HIV/Aids, TB and Malaria.

He said the overall goal of the training is to facilitate grant efficiency amongst implementing partners on the ground.

“This training assists the Fund’s recipients to better manage the grants they receive and access more funding, ultimately helping to save lives in a country devastated by the three deadliest diseases across the globe,” he said.

Mlilima said the training forms part of Malawi’s three-pronged partnership strategy with Global Fund, which includes strengthening business relationships with implementing partners; improving levels of operational risk management for donor recipients; and facilitating staff development.

He said Standard Bank is passionate about the health and well being of Malawians as part of its effort to contribute to nation building and to move business and personal lives forward.

“Thus last year in April, we signed a Memorandum of Understanding (MOU) with the Global Fund that underscores our commitment in fighting AIDS, TB and Malaria. The MOU is part of the bank’s comprehensive action in the fight against the three epidemics,” he said.

The economist said Standard Bank would continue to play its oversight role to ensure that Global Fund partners achieve their financial and project goals.

In March, government submitted a funding request to Global Fund for the period 2018-2020, which the fund approved in response to what the fund’s regional manager Charlotte Kristiansson said was in appreciation of progress Malawi was making in the fight against the three diseases.

The fund changed its funding mechanism putting Actionaid and World Vision as principal recipients. The two international NGOs are in turn expected to work directly with the government through Ministry of Health.

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