Malawi autographed a Financing Pact with the European Union Estimated at €125 Million

By Abdul Rahman Bangura–

Photo Credit: Freepik

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– The EU will fund projects in the energy and agriculture sectors as well as a drive towards good governance, among other areas.

Endorsing the consensus on past Friday in Lilongwe, EU Commissioner for International Partnership – Jutta Urpilainen stated such an undertaking is a vote of confidence from the EU to Malawi.

“The funds will improve economic transformation through job creation. We will keep a closer eye to see how Malawi will improve through these programmes,” she told.

Urpilainen mumbled the EU is similarly funding the administration in the fight against corruption as one way of persuading more foreign direct investment.

Minister of Finance Sosten Gwengwe let out, the funds will enable the government attain the development agenda of uplifting Malawians, particularly at the grassroots level. He advised implementing agents to guarantee activities formulated for the programmes are executed within the budget and on time.

“These programmes should meet the expectations of Malawians and our partners. My ministry will not tolerate any abuse or misuse of these scarce resources, which are targeted towards achieving specific goals.

“I will be required to be furnished with reports on a regular basis by the implementing agents to monitor progress of implementation,” Gwengwe said.

The six programmes include Greening and Growing Malawi Programme, valued at €56.5 million, Malawi Energy Programme to cost €11.5 million, Access to Justice Initiative, budgeted for €17 million, the Malawi Democratic Governance Programme pegged at €17 million, the Malawi Cooperation Facility budgeted for €9 million and the
Response to Global Food Insecurity graded at €15 million.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent