10 August 2016 Last updated at: 9:35 AM
World Bank pumps K37 BN into Malawi
The World Bank has pledged to support three projects in the Malawian health and education sectors to the tune of K37 billion.
On Monday, Malawi government and the World Bank signed a financing agreement for the three projects which are Nutrition and HIV/ Aids project, Southern Africa Tuberculosis and Health Systems support project, and Southern Africa Higher Education Centres of Excellence project.
The three projects have a commitment value of K37 billion.
Minister of Finance Economic Planning and Development Goodall Gondwe signed the agreement on behalf of Malawi government while World Bank Country Manager Laura Kullenberg signed on behalf of the Bretton Woods institution.
Because of the hunger that Malawi is likely to face due to El Nino, the World Bank recently granted Malawi $22.6 million, just over half of which will be used to help curb acute malnutrition in under-five children caused by drought-related food shortages.
But over half of Malawi’s population is facing hunger this year and the country is still asking for help from bilateral and multilateral partners.