APM Hails World Bank For Splashing US$70 million To Malawi For MASAF IV Project

APM Poses For A Photo With Makhtar Diop After The Meeting

President Peter Mutharika has expressed gratitude to the World Bank for providing up to US$70 million financing under the MASAF IV project.

The President said the resources will be used for the social cash transfer and public works programmes.

Professor Mutharika was speaking in Lilongwe when he met in audience the World Bank Vice President for Africa Mr. Makhtar Diop who is in the country for a tour of duty.

According to the President, the funds will enable a section of Malawians who have been affected by hunger this year to access food through the markets.

“The contribution of the Bank to the Social Cash Transfer Programme, together with that of other development partners, enables Malawi to achieve 100% coverage of the country,” disclosed President Mutharika.

He said the funds come after another life-saving intervention recently provided by the Bank.

“In 2015, the Bank provided US$80 million under the Malawi Floods Emergency Recovery Project, which included some US$15 million for maize purchases for humanitarian response,” he added.

President Mutharika said his governemnt’s focus is to break this cycle of food insecurity.

“While it is a known fact that Malawi is vulnerable to climatic shocks, the country possesses great potential to break this cycle. To this extent, the Government has devised the National Resilience Plan to systematically break the cycle.”

According to Prof. Mutharika, key in this plan is the promotion of large-scale irrigation farming to mitigate against climate change, particularly drought episodes.

In his remarks, Mr Diop congratulated the President and government for the strides that have been recorded in the quest to ensure food security for all Malawians.

He said the World Bank stay committed to assisting Malawi on the path to recovery.

He added that the Bank is also committed to assisting Malawi in the energy sector as the sector is currently undergoing reforms aimed at improving the provision of power to all Malawians.

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