Fruits of Saudi Arabia trip: Chakwera secures K34bn funding for Makanjira Road construction

Malawi President Lazarus Chakwera

President Lazarus Chakwera’s trip to Saudi Arabia is already bearing fruits as the Malawi leader has signed a financial partnership agreement of K34 billion with the Saudi Fund for Development meant for the construction of Makanjira road in Mangochi.

The partnership agreement, signed this Saturday in the city of Riyad in Saudi Arabia, joins several other financial partnership between Malawi government and Saudi Arabia.

In his remarks, the Malawi leader underlined that the since the beginning of the development cooperation in 2010, the Kingdom of Saudi Arabia has provided about 50 million dollars’ worth of concessional loans, which have gone a long way in cementing the partnership between our two nations.

“For example, it was the Saudi Fund for Development that partnered with us to build a state of the art 300 bed hospital in Phalombe, which is now providing various health services to our people, including ante-natal and neonatal services that were once provided at facilities too far away,” he said.

He added that it was the Saudi Fund for Development that partnered with us to construct 3 Teachers Training Colleges in Malawi with an annual enrolment of about 1,200 teacher trainees.

“It was the Saudi Fund for Development that contributed to the 3 financing of the Thyolo-Makwasa-Bangula road, which has improved connectivity for our farmers. It was the Saudi Fund for Development that supported our efforts at debt restructuring, as discussions between my officials and Kingdom of Saudi Arabia team have commenced in a win-win spirit, and we remain hopeful that through your support we will get a confirmation on debt restructuring assurances,” he said.

Chakwera hailed the Saudi government for the generous decision accept his proposal for the construction of the Makanjira road is a gift that will keep on giving for generations to come.

“As such, it is worthy of special recognition and our Saudi partners are worthy of special thanks. This important transport infrastructure will facilitate intra country trade and regional trade, and usher in a new wave of prosperity for Malawi,” he said.

On his part CEO of the Saudi Fund For Development, Sultan Almarshad, pledged to continue supporting Malawi in future infrastructure development projects.

“We are also in talking terms with the Malawi government in other future projects,” said Almarshad.


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.