Parliament has this afternoon passed Bill No. 6 of 2024: NBS Bank Plc and National Bank of Malawi Plc (Lake Malawi Water Supply) Loan Authorisation- Amendment bill.
The bill amends the NBS Bank Plc and National Bank of Malawi Plc (Lake Malawi Water Supply Project) Loan (Authorisation) Act (No. 20 of 2023) to include CDH Investment Bank Limited, as one of the lenders of funds for the Lake Malawi Water Supply Project.
The bill has also revised upwards the sum of K105 billion that was previously authorized by Parliament, which now, due to the recent currency re-alignment, falls short of the $100 million equity contribution from the government into the project.
The objective of the project is to provide a potable water supply to the Lilongwe, Salima, and Dowa districts.
The House also passed Bill No.1 of 2024: Legal Education and Legal Practitioners (Amendment).
The bill amends the Legal Education and Legal Practitioners Act (No.31 of 2018) to address the challenges identified during the implementation of the Act.
Previously, the Act required holders of a law degree, seeking to be admitted to the bar, to attend the Malawi Institute of Legal Education and subsequently write and pass the Malawi Law Examinations.
The other bills the House passed are; Bill No. 10 of 2024: Older Persons, Bill No. 8 of 2024: Electricity (Amendment), and Bill No. 9 of 2024: Competition and Fair Trading.
