World Bank through RBM disburse K36 billion to 36,000 business projects

The World Bank through the Reserve Bank of Malawi (RBM) has disbursed thirty six billion kwacha to thirty six thousand businesses under the Financial Inclusion and Entrepreneurship Scaling project.

The eighty six million United States Dollars five year project, commenced in 2020 to address financial constraints that Micro, Small and Medium sized Enterprises face as well as promoting entrepreneurship capabilities in Malawi.

Dr Mark Lungu, FInES project Manager said lack of capacity of financial institutions as well as inadequate credit intermediation has contributed to the low access to finance by Micro, Small, and Medium Enterprises in the country.

Lungu said empowering micro economy is very crucial towards the country’s economic growth as well as poverty reduction.