It was all smiles on Monday 28th November, 2022 as the Malawi Government and Bridgin Foundation inked a $6.8 billion financing agreement to be slaphed on various educational, health and agricultural projects for the country wide.
The Chakwera led administration is leaving no stone unturned in it’s quest to bring back the tattered economy which was mercilessly plundered by Democratic Progressive Party (DPP) regime.
Speaking at the function, President Chakwera commended Bridgin Foundation for the corporation agreement describing it as early chrismas for Malawi.
Chakwera explained that the development shows that the international community has alot of trust for Malawi.
He said the Bridgin Foundation has helped fulfil vision to build Inkosi Ya Makosi Mm’belwa University.
Chakwera said when he announced about twin towers at Capital Hill, people described it as empty speech but he is happy that the signing ceremony has included funding for the construction of such project.
He said there is no region in the country which will not benefit from this funding. Chakwera said today is a celebration day for the country.
The President also commended RUFORUM for introducing him to Bridging Foundation.
Chakwera described today’s signing of a governance agreement with Belgium-based Bridgin Foundation as “an early Christmas present” for every Malawi.
President Chakwera also branded the grant further as “momentous and a game changer.”
Speaking just before officially signing the historical grant, the President also recalls that since time immemorial, Malawi has never signed a development program of 6.8 billion dollars (an equivalent of K7 trillion) magnitude.
The President also describes the signing ceremony as “not only the act kindness and generosity but also an act of trust.”
With the signing of the grant, which will be implemented for a period of three to four years, President Chakwera says he is now vindicated on his dream of making Malawi a better place, as resources as now available for all flagship projects which he promised Malawians during campaign period.
“It is a day of celebration for every Malawian who is active in the economy,” he proclaims.
Meanwhile, the President has warned against all selfish and individual interests in the implementation of the grant, stressing that “time for side deals is over.”
Some of the projects for this agreement include Inkosi ya Makosi M’mbelwa University with high-tech Livestock Industrial Centre in Mzimba, Kamuzu University Teaching Hospital in Blantyre with satellites in Mangochi, Lilongwe and Mzuzu, High-tech Bio Science and Fertilizer Manufacturing Industrial Park at Lilongwe University of Agriculture and Natural Resources (Luanar), Mzuzu University Teaching and Learning and Research Facilities for geo-mining and the establishment of a business park.
Other projects are Malawi University of Science and Technology High-tech and Engineering hub, Capital Hill Twin Towers to provide office space for ministries, departments and agencies, Development of Power generation facilities with total installed capacity of 1000 megawatts.
Speaking during the function, The Regional Universities Forum for Capacity Building in Agriculture (RUFORUM), Executive Secretary Dr Patrick Okori urged the stakeholders to speed up implementation and operationalisation of the agreements.
Okori described the imminent signing of a USD$6.8 billion governance agreement with Bridgin Foundation as a victory not only for Malawi but also Africa as a whole. According to Okori, the signing of the agreement is a product of two years of collaborative efforts and intense negotiations by a wide spectrum of stakeholders.
He says such a resource envelop brings hope not only to Malawi but also the broader continent.
Meanwhile, Okori has prayed for a speedy implementation of all projects earmarked under the grant.
“We must run twice faster than the rest of the world.”
He said Malawi Government need to develop human capacity so that the project is put into proper use. Okor appealed that no one should be left behind in as far as education is concerned.
In his remarks Minister of Finance Sosten Gwengwe said said the investment are aimed at unlocking bottlenecks in our investments.
Gwengwe said the financing is a game changer in financing different projects that have been stagnating.
Bridging Foundation President Tanko Mauhamadou commended President Dr Lazarus Chakwera for the vision to develop this country.
Tanko Mauhamadou said the Foundation is not in Malawi to support the country alone but the financing is also there to boost the western economy.
He commended the Malawi Ambassador to Belgium Dr Naomi Ngwira for the tireless effort being registered to have this financing.