• Thu. Jun 8th, 2023

Chakwera receives US$14 million Agricultural Insurance Payout from African Development Bank

Business Editor

Malawi President Dr. Lazarus McCarthy Chakwera on Tuesday received US$14 million agricultural insurance payout from African Development Bank (ADB) through the African Risk Capacity (ARC) at Kamuzu Palace in Lilongwe.

The payout is expected to support households affected by draught in the country.

In his remarks, Chakwera advised implementors of the payout to exercise due diligence so that no single penny is lost through corruption.

“I therefore want to thank all the government officials who have made this payout a reality. When I went around the country on a crop inspection tour and assured Malawians that the country had enough food for everyone and that even those few whose crops had not done well would be provided for, my confidence came from the fact that we had taken this insurance policy to support Malawians in this time of need,” he said.

The president then called for collaborative efforts if the policies, programmes and projects that his administration has lined up are to achieve job creation, wealth creation as well as food security.

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