Governments’ indecisiveness may risk this country failing to get a multi-billion Malawi Kwacha loan from World Bank.
Malawi is expected to get a whooping US$50 million over 20 billion kwacha loan for facilitation of developmental projects and other special funded programs but the money is believed to have stuck at the bank due to government’s irresolution.
Government has recently told the nation through finance minister that World Bank would hold the disbursement of the loan as its board is waiting a seating of parliament to deliberate upon the deal.
But deputy chairperson for the Public Accounts Committee – Davison Nyadani said governments’ dilly-dallying on the loan is not justifiable as it has the potential of impacting negatively on the socio-economic development of the country.
Nyadani believes government has no excuse to make as all possible hiccups on possibility of it pushing for the disbursement of the funds have been resolved.
“Earlier, government said World Bank is waiting for parliament’s approval of the arrangement- but the president had to wait for forensic audit report and other issues before calling for parliament to meet.
“Now all the issues have been resolved and government had nothing to put forward as an excuse, the sooner it meets, the sooner the loan is disbursed.” Nyadani said
Nyadani has since said the loan could be beneficial to Malawi’s social economic development