By Chisomo Phiri
The Malawi government, through the Ministry of Finance and Economic Affairs,on Wednesday signed three agreements worth $46.2 billion with the African Development Bank(AfDB) to support the agriculture sector.
Minister of Finance and Economic Affairs Simplex Chithyola Banda and African Development Bank country manager McMillan Anyanwu signed the agreements at the ministry’s offices at Capital Hill in Lilongwe.
In his opening remarks at the signing ceremony, Anyanwu said the reforms will support Malawi’s reforms in the agriculture sector and protect rural and vulnerable communities from climate-related shocks.
On his part, Chithyola commended the bank for supporting Malawi’s bold reforms.
“This support shows the trust the donors have in our economic reform strategy.
“It is a sign that the bold economic reforms we implemented last year under the ECF [International Monetary Fund’s Extended Credit Facility] have achieved their intended results. They have unlocked budget support,” said Chithyola.
He pledged to use the resources prudently to implement initiatives that improve Malawian’s welfare.
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