By Chisomo Phiri
Minister of Information who is also Government Chief Spokesperson Moses Kunkuyu has commended World Bank’s International Development Association (IDA) for providing Malawi Government with 80 million US dollar grant aimed at providing support to improve resource mobilisation, budget execution and transparency of public finance which will assist in the achievement of results under the Malawi Public Finance Management (MPFM) strategy 2023-2028.
According to Kunkuyu, the development is commendable and signifies governments commitment to ensuring transparency and accountability in the management of the country’s finances.
The Minister also indicates that the development comes at a time when President Dr. Lazarus Chakwera has also recently launched the 350 Million US dollar Millennium Challenge Corporation (MCC) Compact 2, the 45 Million dollar commitment by Alliance for Green Revolution in Africa (AGRA) and other initiatives which donors have committed their support.
He says the government will continue championing good governance through transparency and accountability in complementing President Chakwera’s Sevant Leadership.
The IDA grant complements the International Monetary Fund (IMF) Extended Credit Facility (ECF) arrangement and World Bank Development Policy Financing (DPF), both approved in late 2023.
The Government of Malawi launched the MPFM strategy with the overarching objective of attaining sound financial management and discipline in public service delivery for sustainable development, restoring credibility and confidence in government systems, and creating an enabling environment for more effective development performance.
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