Spain has pledged that it will give Malawi a grant of $5 million (about K2 billion) to enable the country expand the frontiers of social services and the reach of the sanitation circle.
Foreign Affairs spokesperson Quent Kalichero confirmed in New York on Wednesday that the grant will be given under a memorandum of understand that the two governments will sign on Friday.
‚ÄúThat‚Äôs correct. Ministers of Foreign Affairs of Malawi and Spain will on Friday 19th September sign a memorandum of understanding that will lead to the provision of a grant amounting to $5 million for social services and sanitation,‚ÄĚ said Kalichero.
According to her, this is a welcome development at a time when the country needs resources to confront and overcome a myriad of social and economic challenges.
‚ÄúThe signing ceremony will take place right here in New York,‚ÄĚ she said.
Spain‚Äôs capitalist mixed economy is the largest worldwide and the 5th largest in the European Union, as well as the Eurozone‚Äôs 4th largest.