US New Millenium Challenge Corporation chief to visit Malawi

A delegation from the USGovernment’s Millennium Challenge Corporation (MCC)—led by recently-appointed Chief Executive Officer (CEO) Sean Cairncross will visit Malawi from July 31 to August 4.

Cairncross was sworn in as the fifth head of MCC on Monday, June 24th. His first official travel as CEO will include a first stop in Malawi to congratulate the government on progress in developing a second compact and to learn more about the impact of investments in the energy sector completed under the first compact.

During the visit, MCC CEO Cairncross will meet with government officials, civil society, private sector representatives, beneficiaries of MCC’s projects and other donors to learn more about the social, political and economic issues facing the country.

MCC’s Board of Directors selected Malawi as eligible to develop a second compact in December 2018, after successfully completing its first five-year US$350.7 million energy package.

MCC in partnership with the Government of Malawi recently completed a preliminary economic analyses and identified  lack of a stable macroeconomic environment as reflected in high and volatile inflation; high price of road freight transport service and barriers to linking farms to markets in rural areas, and difficulties with access to land for investment due to mismanagement of the estate sector and unclear/uncertain land rights, particularly for women smallholders.

The next compact is therefore likely to address all or some of these constraints to Malawi’s economic growth.