Mutharika upbeat on the Second Compact under the Millennium Challenge Corporation

President Arthur Peter Mutharika says Malawi is committed to working with extra passion to qualify for the Second Compact under the Millennium Challenge Compact.

Mutharika made the remarks on Thursday at Sanjika Palace when he had an audience with the Chief Executive Officer for Millennium Challenge Corporation (MCC), Sean Cairncross and his delegation.

“We are aware that there is a demanding process that we need to go through and we will go all the way.

“We will work with MCC in the process of developing constraints analysis report so that we determine the actual factors that remain to constrain our economic growth,” said Mutharika.

Mutharika added that he is aware that the country needs more work on improving the country’s macroeconomic environment with a strong imprint of private sector participation and difficulties with access to land for investments that affect participation of rural smallholder citizens particularly women.

“Further, we are aware that we have to work on reducing the cost of production such as high prices that result from the cost of poor rural roads and road freight transport services.

“Let me emphasize that we will improve lives of many Malawians the moment we bring down the cost of production in the country.

“Our goal is not just economic growth but inclusive economic growth where rural people participate and benefit in our economic growth,” he added.

The president further said that the reduction of production cost will boost production, allow rural Malawians to participate more in the production, create more jobs and more products.

“This is the turning point for Malawi to stop being a consuming and importing nation to becoming a producing and exporting nation. This is Malawi:’s vision,” said Mutharika.

MCCs Chief Executive Officer Sean Cairncross said Malawi was selected for the second compact as a result of governments continued commitment to strengthening democratic institutions, maintaining sound economic policies and investing in its people.

“The selection demonstrates the faith that our Board of Directors and USA has on Malawi and the hard work the country is doing and we expect that progress to continue for the second compact to be a success,” said Cairncross.

Source: Mana