Chakwera Expresses Graditute With World Bank Partnership

President Chakwera has expressed gratitude for the partnership between Malawi Government and the World Bank for the portfolio of project investments in various sectors of the country amounting to nearly US$2 billion.

The President made the remarks at Kamuzu palace when he invited Ms. Warwick, World Bank Group’s Country Director for Malawi.

Chakwera congratulated the World Bank for the investment of  US$300 million for the Mpatamanga Hydroelectricity Power Plant Project, US$187 million for the Sustainable Social Resilience and Livelihoods Support Project, and US$60 million for the repair of the Cyclone-damaged Kapichira Hydroelectricity Power Plant.

“I would like to thank the World Bank for the support of Malawi’s ongoing negotiations with the International Monetary Fund towards the establishment of a programme Malawi can leverage to advance its socioeconomic recovery strategy in the wake of the combined adverse effects of debt mismanagement and misreporting under the previous administration,” he said.

Chakwera said covid-19 pandemic, climate change and the war in Eastern Europe have impacted the country in many ways more especially in the economy.