The Malawi President, Dr. Lazarus McCarthy Chakwera, has secured US$100 million meant to assist struggling university students in educational loans. About 1000 students are expected to benefit from the loan.
The Malawi leader broke the news on Friday when he virtually attended the launch of Africa – US Presidential Forum on STEM / AI on Thursday.
“The programme is expected to see collaboration between US academic institutions and prospective African students to pursue courses in fields such as engineering, through scholarships,” Chakwera wrote on his Facebook page.
“The initiative gives us a chance to build our own future by harnessing science and engineering technology at tertiary level which in turn will anchor our aspirations towards a middle income economy.”
According to President Chakwera, the gathering also committed US$2.5 million as a grant in the form of prep school scholarships.
Chakwera explained that he took opportunity to lobby for more collaboration from the global community in the Cyclone Freddy recovery efforts under Operation Tigwirane Manja.
During the deliberations, president Chakwera was also accorded the privilege of serving as the initiative’s chairperson.
The event was hosted by Her Excellency Rev. Dr. A.K. Ocansey, the Executive Chairperson of the Nekotech Center of Excellence and Founder of the Nekotech Center for Labour Migration Diplomacy.