By Linda Kwanjana
Malawi leader , President Dr Lazarus McCarthy Chakwera continues attracting both multilateral and bilateral support from various sectors.
This time around World Bank has approved a whooping US$240 million towards Regional Climate Resilience Program.
In a statement which World Bank Malawi country Representative has signed , the Bank approved the financing on 20 December, 2023.
“We are pleased to notify you that the Executive Directors of the International
Development Association approved, on December 20, 2023, a grant of Two Hundred
and Forty million United States Dollars (US$240 million) to the Republic of Malawi,
for the Regional Climate Resilience Program. Attached is a copy of the related press release for your information.
We look forward to an early signing of the Financing Agreement,” Reads the statement in part.
World Bank has been supporting Malawi for especially last year when the country was hit by Tropical Cyclone Freddy.
The Bank supported Malawi with a total financing of $850 million (about K1.4 trillion) and demonstrates its confidence and trust in the reforms the Malawi Government is implementing.
World Bank country director for Malawi, Zambia, Zimbabwe and Tanzania Nathan Belete said this at Kamuzu Palace in Lilongwe in December during the signing of a $137 million (about K232 billion) direct budget support agreement.
He asked the government to continue with the policy reforms aimed at restoring the economy and to focus on growth by utilising the abundant natural and human resources in the country. He pledged the bank’s continued support to government’s social
