By Chisomo Phiri
Malawi is set to receive a US$20 million loan from the Abu Dhabi Fund for Development in the United Arab Emirates (UAE) for the construction of the Mangochi-Makanjira Road in Mangochi.
In an interview,Minister of Transport and Public Works, Jacob Hara, President Lazarus Chakwera’s recent engagement with the Director General for Abu Dhabi Fund for Development, Mohamed Saif Al Suwadi, was instrumental in securing the loan.
He expressed pride in the development, stating that it unlocks full funding for the project.
Hara noted that co-financiers were previously hesitant to commence the project due to funding uncertainties.
“With the Abu Dhabi Fund’s commitment, construction is expected to begin soon, with procurement processes for consultants and contractors already underway.
“The road project is expected to enhance tourism in Mangochi, which boasts some of the most beautiful beaches on Lake Malawi.
“The project aligns with President Chakwera’s Agriculture, Tourism, and Mining (ATM) strategy, which aims to promote economic growth and development,” he said.
The Minister added that during his visit, President Chakwera also presented an investment pack to UAE investors, highlighting opportunities in agriculture, among other sectors.
Malawi has approximately 1.3 million hectares of arable land available for agricultural investment.
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