• November 29, 2022 7:08 pm

President Chakwera delighted with signing of $350 Million Second MCC Compact 

Sep 29, 2022

By Kondanani Chilimunthaka

Signing of the Memorandum Of Understanding (MOU) for the Second Millenium Challenge Corporation Compact on Wednesday, September 28,2022 in Washington DC, USA has delighted President Lazarus Chakwera as he believes the compact will create a range of economic opportunities for the people of Malawi.

In his speech during the signing ceremony in Washington DC, President Chakwera said the signing of this second MCC compact is very important program for Malawi.

He said; “This is a very important program for Malawi and attests not only to the long-standing cordial relations between Malawi and the United States, but also to the progress Malawi has made in the recent months to meet the exacting standards of the MCC scrorecard on the policies we have implemented for the advancement of governance, economic freedom, democracy, people-centred investments, and the fight against corruption.”

Chakwera who described the MOU as historic occassion, said the fight against corruption ensures that investments like the MCC compact fulfil their intended purpose and yield their intended benefits, and promised to continue with the fight against the vice until it gets defeated.

“I am aware that after Malawi’s selection for its first MCC Compact in the energy sector, before I came into office progress had stalled for years in securing this second compact for transport sector because of issues of corruption.

But in the past two years, my administration has taken a zero-tolerance stance against corruption, shielding no one from investigation and prosecution, as well as removing and suspending from office those with a case to answer before our credible Courts of justice. We will therefore continue to fight it and stand against it, no matter how long it takes, until it is defeated.” Lamented President Chakwera.

Malawi leader then pleaded with the MCC to consider an investment that will enhance regional integration with Malawi’s neighbouring countries of Mozambique and Zambia through infrastructure such as rail and roads which he (Chakwera) believes to have phenomenal economic benefits for the peoples of the three countries.

But writing on his Facebook page soon after the signing of the MOU in USA, President Chakwera said the compact will be implemented to reduce transport costs and strengthen land administration in the country.

“Among expected outcomes is the construction of the 300-kilometre network of four corridor roads across the country to facilitate greater flow of agricultural products from farms to urban markets.

Secondly, the compact will build Malawi’s capacity in land management reforms to maximise land revenue both for rural farmers and the country.” Reads part of the post on his official Facebook page.

President Chakwera’s securing of the Second MCC Compact has attracted many positive comments back home with country’s Vice President, Saulos Chilima congratulating President Chakwera and extending his gratitude to the President for securing such Millennium Challenge Corporation Compact.

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