President Peter Mutharika said on Tuesday he is pleased with the announcement by African Development Bank (AfDB) Group President Dr Akinwumi Adesina about the increase of financial support to Malawi from K212 billion (US$310million) to K400 billion US$578million during the 2016/17 financial year.
The AfDB has made a further commitment of $1 million immediately for Malawi to purchase food for its people who are food insufficient and an additional $7 million for rapid humanitarian assistance and response and $28 million for various projects across the country.
AfDB president said in the commercial city of Blantyre after holding an audience Mutharika that the support will mainly go towards youth empowerment, energy and Agriculture.
“It was the role of the bank to support programs that can transform lives of people in member countries across Africa including Malawi,”he said.
He said Africa is still growing therefore needs more support to continue developing.
President Mutharika commended the bank for the support it renders to programs that are within his government’s framework, the Malawi Growth and Development Strategy (MGDS).
” I am particularly pleased to note that the Bank continues to be one of the most important development partners for Malawi,” said Mutharika.
Mutharika said AfDB remains “a true friend and a development partner” for Malawi as witnessed in previous and present support.
He said his government recognizes the important role the bank plays in supporting countries including ideas it gives to member states.
Mutharika said government is implementing two major reforms–Public Financial and Economic Management and Public Service–which he described as crucial to attaining efficiency in service delivery.
“We are facing many challenges but they will become our opportunities,” said Mutharika.
He said Malawi’s dream to wean itself from aid dependence will not be realised without support from institutions such as AfDB.
The bank said it is committed to supporting various reforms in agriculture and infrastructure development to help Malawi achieve economic independence.
However, while in the country, AfDB Group President Adesina will hold discussions with government officials, Civil Society Organizations (CSO’s) and will also visit some projects funded by the bank
The AfDB Group is a multilateral development finance institution comprising AfDB, the African Development Fund (ADF) and the Nigerian Trust Fund. Its shareholders include 54 African countries and 28 non-African States.
Source: AllAfrica/ Nyasa Times