His Excellency the State President, Dr. Lazarus McCarthy Chakwera has expressed gratitude towards the World Bank for its continued support, in form of funding commitments, towards a range of projects and programmes.
The President, on Thursday, held a meeting with World Bank Group’s Country Director for Malawi, Ms. Mara Warwick, who he invited to personally thank for the thriving partnership between Malawi and the Bretton Woods institution.
The World Bank continues to support Malawi through a range of projects and programmes in various sectors, a portfolio valued at around US$2 billion.
Just recently the Bank approved support of US$60 million for the rehabilitation of the Kapichira Hydroelectricity Power Plant which was damaged by Cyclones early this year.
Other funding commitments include the US$187 million for the Sustainable Social Resilience and Livelihoods Support Project, US$134 million for the Shire Valley Transformation project, US$30 million for Africa Centre for Excellence and the Mpatamanga Hydroelectricity Power Plant Project,
President Chakwera also expressed appreciation for the support the World Bank is giving to Malawi in the ongoing negotiations with the International Monetary Fund (IMF) towards a new Extended Credit Facility (ECF).
He noted that the impending EFC, once approved, will play a critical role in his administration’s economic recovery strategy.
President Chakwera and Ms Warwick have since agreed to continue engaging on all pertinent matters so as to keep the relations between Malawi and the World Bank strong.