Friday, February 23

ADB And Malawi Sign $20
.2 Million Aid

The African Development Bank and Malawi have signed a $20.2 million agricultural emergency food production facility project to help 500,000 farming households with 70,000 tonnes of fertiliser and 2,500 tonnes of certified seed.

The two have also signed a $9.25 million agreement to help Malawi pay its sovereign risk premium for the transfer of drought risks to the African Risk Capacity.

Minister of Finance and Economic Affairs Sosten Gwengwe says the $20.2 million is a concession loan while the $9.25 million a grant.

The bank and government have signed the two agreements at Capital Hill in Lilongwe.

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