Parliament has passed a bill to allow the government to borrow K193 billion from the International Development Association.

The money will go towards additional financing for the Malawi Social Support for Resilient Livelihoods Project.

According to Minister of Finance, Sosten Gwengwe, of the amount, K29 billion is a loan while K164.3 billion is in form of a grant.

The Minister further said the money would improve resilience among the poor and vulnerable populations.

Gwengwe said the project beneficiaries are expected to increase from 105 thousand beneficiaries in 9 districts to 147 thousand in 11 districts.

Related Posts

EXCLUSIVE: What exact interest does NCA have on Sattars?

NCA should clean rampart corruption in UK first before focusing in Africa Reports show that British National Crime Agency (NCA) Read more

Corrupt Asian businessman Abdul Karim Batatawala captures Chakwera’s State House

By Staff Reporter Asian ‘corrupt’ businessman Abdul Karim Batatawala of the infamous Immigration Department ‘Uniform Scandal’ is reportedly to have Read more

Leave a Reply

Your email address will not be published. Required fields are marked *

FDH Launch Islamic Banking Window