• November 29, 2022 5:13 pm

Malawi secures US$ 350 million through MCC  

Sep 29, 2022

Washington Dc, September 29, Mana: President, Dr Lazarus Chakwera and US Secretary of State Anthony Blinken presided over the signing ceremony of the second Millennium Challenge Compact (MCC) amounting to US$ 350 million in Washington DC on Wednesday.

Speaking at the function, Chief Executive Officer (CEO) for MCC Alice Albright said she was impressed with Chakwera’s administration commitment to build Malawi and reduce poverty from the grassroots level.

“The government of Malawi partnered with MCC and Malawi was eligible to secure US$ 350 million compact which was designed to overhaul the power  sector to transform the energy sector, clean water, improved sanitation, boost agriculture yields, efficient transportation infrastructure among others,”  she explained.

“Building and success is  a strong commitment to Malawi’s democratic governance and MCC board selected Malawi for a second phase in 2018 which is being signed today and is a great moment,” Albright pointed out.

She added that, “I am impressed with President Chakwera’s commitment to build Malawi and his vision to reduce poverty levels among others hence the signing of the Compact marks a great milestone as it will assist in the construction of sub stations increase electricity transmission road network among others.”

THE CEO added that the MCC would benefit over 13 million Malawians and boost Malawi’s economy and in different sectors of development.

President Lazarus Chakwera described the Compact as a positive impact on Malawi’s economy that would have through the construction of over 300kms of roads that includes Mkanda- Mchinji to Mwase, from Chikwawa Rumphi to Euthini in Mzimba, from Chileka to in Lilongwe to Chigwirizano as well as from Chantulo in Mangochi off Golomoti to Monkey.

“Malawi is transforming and is no longer going to be the same after making tough and painful corrective economic decisions that will yield dividends for the country,” he said.

Chakwera thanked the US government for showing commitment which would go a long way to achieve the vision for Malawi as a country.

US Secretary of State, Anthony Blinken pledged more support for Malawi’s developmental goals that includes the Extended Credit Facility with the International Monetary Fund (IMF).

He assured the President of America’s support in Malawi quest to implement Malawi 2063 towards food security, self reliant, industrious and job creation among others.

The MCC cooperation was represented by MCC CEO, Alice Albright and Malawi Government  was represented by Sosten Gwengwe, Minister of Finance and Economic Affairs, Secretary to the treasury, Minister of Foreign Affairs Nancy Tembo among others.

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