Visiting Millennium Challenge Corporation (MCC) Chief Executive Officer Daniel Yohannes has cautioned Malawi that the US will continue to closely monitor Malawiâ€™s economic and political governance.
In June 2012, MCC reinstated the Malawi Compact, a $350.7 million grant designed to revitalize Malawiâ€™s power sector. The compact was placed on operational hold in July 2011 and formally suspended in March 2012 due to a pattern of actions by the Government of Malawi that conflicted with the democratic governance criteria that MCC uses to select its compact partners.
â€śMCC will continue to closely follow the changing democratic and economic land scape in Malawi,â€ť said Yohannes during a news conference in Lilongwe Thursday.
Daniel W. Yohannes, arrived in Lilongwe, Malawi on Tuesday for a series of meetings with President Joyce Banda, government officials and members of Malawiâ€™s civil society and private sector.
MCCâ€™s Malawi Compact will reduce poverty by improving the availability, reliability and quality of Malawiâ€™s power supply. The compact will fund rehabilitation, upgrades and modernisation of power systems, and will support the Government of Malawiâ€™s policy reform agenda in building capacity and providing technical assistance in critical sector institutions.
Following the CEOâ€™s visit, an MCC technical mission will travel to Lilongwe to prepare for compact implementation, including carrying out a reassessment of project activities after nearly one year of inactivity
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