Malawi Signs $104 Million Deal With African Development Bank

Malawi Signs $104 Million Deal With African Development Bank

From Star Africa

The African Development Bank (AfDB) and Malawi have signed three development agreements valued at US$104 million in the capital Lilongwe.The agreements cover rural water and sanitation infrastructure for improved health and livelihoods, a project to develop the Nacala Road Corridor and the feasibility study for the Lower Shire Watercourse Project.

AfDB country representative Andrew Mwaba said the support would assist Malawi to facilitate its goods and services at national as well as regional level and improving the living standards of people.

“Apart from the wider regional integration and trade facilitation benefits, this will enhance socio-economic activities,” he said.

The Nacala Road Project was connected to neighbouring countries of Mozambique and Zambia.

Mwaba also said his body has earmarked US$15million towards 2014/15 National Budget support.

Malawi Finance Minister Goodall Gondwe said government was grateful with the support the bank renders to Malawi.


Read more at Star Africa