Malawi: World Bank approves USD 35 million to support strengthening development projects

Malawi: Banco Mundial aprova USD 35 milhões para apoio de reforçar projectos de desenvolvimento

he World Bank, through the International Development Association, has approved an additional donation of 35 million dollars for Malawi to strengthen its capacity to respond to the needs of the population.

The amount, according to Radio Mozambique, will also strengthen institutional performance, resource management and service provision, given the economic crisis the country is still suffering.

Institutional support will be through results-based funding for local authorities, according to the executive director of the International Development Association, Floribert Ngaruko.

Malawi's minister of finance and economic affairs, Simples Chithyola Banda, said that the additional funding shows that donors are placing their trust in the current government.

For Banda, the executive is committed to improving the country's macroeconomic environment through prudent fiscal policies, and this financial injection is synonymous with improvements in the work carried out.

The executive director of Malawi's local government association, Hadrod Nkandawire, described the additional funding as a national gain, given the challenges that are imposed at district level in providing public infrastructure and improving living conditions.

The International Development Association, an integral part of the World Bank, focuses on aid to low-income countries.

Grants and low-interest loans help countries invest in their future, improve lives and create safer, more prosperous communities around the world. (RM)

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