Sunday, May 26, 2024

Pres. Chakwera thanks World Bank for restoring direct budgetary support

Pres. Chakwera and World Bank's Belete

Malawi leader on Friday in the capital Lilongwe thanked the World Bank for restoring direct budgetary support to the country. Chakwera was speaking during the signing ceremony of US$137 million budgetary support agreement between World Bank and Malawi Government.

“Thanks to the support of our partners like World Bank, we have taken some bold steps to enact serious policy reforms for restoring the short term macroeconomic stability and medium term growth, thus bringing us to this windfall we are able to have today,” said Chakwera.

The president further said that to support implementation of some reforms, the government enacted legislation in data protection and Disaster Risk Management and the laws were enacted to improve the operating environment and ensure that developments in digital services are well regulated.

“I am grateful that the continuous engagements between Malawi Government and World Bank are finally yielding fruits, I am specifically thankful to the World Bank Vice President, country director, country managers and economists for working tirelessly to restore this facility,” said Chakwera.

The Word Bank Country Director for Malawi Nathan Belete congratulated Malawi Government for being able to successfully achieve reforms that has enacted the World Bank to restore the budgetary support with 137 million dollars out of which 80 million dollars will come immediately as a grant.

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