By Kondanani Chilimunthaka
The European Investment Bank (EIB) has expressed its commitment towards financing development projects in Malawi as part of expanding the banks footprint in the country.
Speaking on Monday, 6th March, 2023 in Doha after a sideline meeting with President Lazarus Chakwera, the banks Vice President, Thomas Ostros said the bank is pleased to heavily engage itself in various projects which give direct impact on the livelihood of people across Malawi.
He said the bank is interest in supporting small-scale and female-led companies, especially those in agriculture sector and are flourishing.
Ostros further disclosed that the discussion with President Chakwera also centered on the co-financing to upgrade and modernize Chileka International Airport in the commercial city of Blantyre, and also the upgrading of the Escom transmission line from Salima to the Northern part of Malawi through Nkhotakota and Dwangwa.
Said Ostros; “We also discussed water projects that we c
are implementing in Malawi for many years now. So there are many important projects that we discussed and we shall continue to discuss and I can assure you, we have a very good cooperation with Malawi.”
On his part, President Chakwera during the meeting emphasized the country’s zeal to complete additional projects like Water supply project for Salima through Central Region Water Board and improvement of energy supply in the major Water Boards apart from the Lilongwe water project, among others.
However, President Chakwera asked the bank to look into areas of science and technology as part of its support, describing science and technology as a key to industrialization in Malawi as crafted in the country’s 2063 vision.
In an interview, Minister of Finance, Sosten Gwengwe wo was part of the discussions described the meeting as successful, saying it basically reconfirmed the support and faith that European Investment Bank has in Malawi as a country.
The 5th United Nations Conference of Least Developed Countries which is currently underway in Qatar is expected to end on 9th March.
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