* The World Bank believes the Rapid Response financing options will help stabilise the economy and place it firmly on the path toward full recovery
* As the President reaffirmed his administration’s commitment to strengthening strategic partnerships aimed at rebuilding Malawi’s economy
Malawi News Agency & Maravi Express
World Bank’s Regional Programme Director for Africa, Dr. Nathan Belete, and the incoming Country Director for Malawi, Zambia, Zimbabwe and Tanzania, Dr. Firas Raad, held an audience with President Arthur Peter Mutharika today, April 30, to consolidate the Bank’s Rapid Response financing support.
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In an interview following the meeting at Sanjika Palace in Blantyre, Belete pledged to assist Malawi through the Rapid Response financing options, which the Bank believes will help stabilise the economy and place it firmly on the path toward full recovery.
On his part, President Mutharika reaffirmed his administration’s commitment to strengthening strategic partnerships aimed at rebuilding Malawi’s economy, saying while his administration is doing everything possible to stabilise the economy, global pressures stemming from geopolitical conflicts in the Middle East continue to pose significant challenges.
He thus appealed for continued World Bank support to cushion the nation against these external strains.
The meeting included the World Bank team, Minister of Finance, Economic Planning and Decentralisation, Joseph Mwanamvekha, Secretary to the Treasury, Cliff Chiunda, and other Ministry of Finance officials.
Meanwhile, on April 24, the World Bank also announced the approval of US$80 million International Development Agency (IDA) grant to Malawi for the Governance to Enable Service Delivery (GESD 2.0) project to benefit Malawians across 32 district and municipal councils.
The assistance is building directly on the transformative gains of the first phase to improve public services and further institutionalise performance-based approaches within government systems, strengthen health, education, water, among others.
