Tuesday, September 27News That Matters
Shadow

World Bank Approves US$ 400 To Malawi

Share the story


The board of the World Bank has approved over US$400 million (K326.2 billion) for the development of the country.

Minister of Finance Hon Sosten Alfred Gwengwe MP confirmed the development adding that some of the money, US$60 million (K49 billion) will be allocated to EGENCO to restore Kapichira Hydro Power Station.

Malawi lost 130 megawatts after it was shut completely following Tropical Storm Ana.

Hon Gwengwe said the bank has approved US$185 million (K150.8 billion) for Social Support for Resilient Livelihood Programme.

The bank has also committed US$30 million (K24.4 billion) for the Africa Centre of Excellence, as well as US$134 million (K109.2 billion) for the Shire Valley Transformation Project.

Current commitments from the World Bank have just exceeded over US$400 million for this financial year, conveying significant support and confidence in the development of Malawi.

Related News
Former Energy Minister Newton Kambala Speaks Out On His Arrest On Alleged Corruption Case

Today, 9th August 2022 marks one full year since I was arrested on alleged corruption charges. I am out on Read more

MALAWI SIGNS K26 BILLION PACT WITH AfDB

The African Development Bank (AfDB) and the Malawi Government have signed two agreements on important projects recently approved by the Read more

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 Read more

25% Devaluation Necessarily Evil- Gwengwe

Minister of Finance , Sosten Gwengwe has today told Parliament that the 25 percent devaluation effected two months ago was Read more

Irish Govt Pumps K20 Billion Into Social Cash Transfer Program

Minister of Finance, Sosten Gwengwe and Irish Ambassador to Malawi, Seamus O'Grady, have signed a grant agreement of over K20 Read more

MW, OPEC FUND SIGN FINANCIAL AGREEMENTS

Malawi Government and Opec Fund have signed agreements for Dowa Town Water and Sanitation Project and a feasibility study for Read more

Energy Minister In Closed Meeting With Egenco And ESCOM Over System Shutdowns

Minister of Energy Ibrahim Matola is this morning engaging Electricity Generation Company (Egenco) on the intermittent power supply cuts the Read more

Matola Engages ESCOM, EGENCO

Minister of Energy Ibrahim Matola is this morning engaging top management of EGENCO and ESCOM on the frequent power system Read more


Share the story

Leave a Reply

Your email address will not be published.