* Represent a profound investment in Malawi’s future and a vital contribution to the ongoing development agenda
* This budgetary support will help in creating an enabling economic and regulatory environment for agricultural transformation
Malawi News Agency (MANA)
Malawi has signed three protocols of agreements in grant from the African Development Bank to the tune of US$46 million with US$23 million earmarked as agricultural-based budgetary support for the implementation of government’s medium-term development agenda.
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Speaking today after the signing ceremony, Minister of Finance & Economic Affairs, Simplex Chinthyola Banda said the grants represent a profound investment in Malawi’s future and a vital contribution to the ongoing development agenda.
“I would like to extend my sincere gratitude to the African Development Bank for their unwavering support in advancing Malawi’s national priorities,” he said, adding that the agricultural-based budgetary support “places a strong emphasis on enhancing agricultural productivity, commercialisation, and strengthening public financial management.
“It aligns closely with our aspirations as outlined in MW2063 national vision, national policies guiding agriculture, and the Malawi Implementation Plan (2021-2030).
“This budgetary support will help in creating an enabling economic and regulatory environment for agricultural transformation by promoting agricultural productivity, commercialisation, and market access to help our farmers increase their output and connect to better markets.
“Furthermore, this will enhance resilience by protecting livelihoods and ensuring food security in the face of climate and economic shocks,” said the Minister.
On his part, African Development Bank’s Country Manager, McMillan Anyanwu said the agriculture based budgetary support, the agricultural productivity & commercialisation programme, the TSF and ADRiFi Agreements — aimed at mitigating fragility through the Africa disaster risk financing programme in southern Africa — are grants that aim at supporting the Malawi people.
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