Friday, April 19, 2024

Featured Video

Latest Stories

Top 10 Music

Upcoming Events

Zomba City Festival

Fri, 26 Apr 2024 10:00:00 UTC @ Botanic Garden - 2024 Zomba City Festival is schedulled to take place on 26 to 28 April at Botanic Garden in Zomba This is a festival for all ages in the historic mountain city of Zomba. Celebrate Cultu... More Info
Njuchi Day

Sat, 27 Apr 2024 10:00:00 UTC @ New Village House (Kampala Manase) - Elinationa And No Limit Presents Njuchi Day Music show with Njuchi Zitatu. The show will take place at New Village House in Manase on 27 April 2024 and it will have music performances b... More Info

Word Bank Approves Budget Support Package to Malawi

The world’s largest bank (World Bank) has announced that for the first time since 2017, it will provide budget support package to support reforms for growth and resilience in Malawi.

According to the letter issued by the bank, they are happy with the way the country has managed several economic policies.

“The World Bank applauds Malawi’s authorities for taking tough but necessary decisions to stabilize an acute macro-economic crisis. I am pleased the bank is now able to respond with a sub tertial budget support operations that supports an ongoing program of reforms,” reads part of the statement.

The bank has also said that it is satisfied with the policies that Malawi has put in place set by International Monetary Fund (IMF) through the extended credit facility.

So far, the bank has set aside 137 million dollars to support the development of the economy and other sectors in the country.

On 7 December, 2023, the Malawi Government and World Bank signed a MK125 billion Malawi Social Protection Multi Donor Trust Fund (MDTF) to support vulnerable people.

 

Subscribe to our Youtube Channel:

Related Posts

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular Articles