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GOVT, EU  SIGN  K140 BN SOCIAL PROTECTION FINANCING AGREEMENT

Malawi Government and the European Union have signed a K140 billion financing agreement to help economic transformation and social protection in the country.

The agreement will see Malawi receive funding to help the country heal from the economic challenges it is facing.

EU Ambassador to Malawi, Rune Skinnebach said the support is to help the government of Malawi heal as it is yet to recover from the economic meltdown caused by Cyclone Freddy coupled with a cholera outbreak and COVID-19 pandemic.

The Ambassador said in line with Malawi’s vision 2063 EU looks at a gender-responsive social protection programme and a homegrown school-meals programme. He said the programme seeks to address challenges people in rural areas of the country are going through.

On his part Minister of Finance,  Simplex Chithyola Banda,  thanked the European Union for the support pledging serious monitoring of  the projects.

The project among other interventions  will improve revenue collection, boost the  tourism industry and help grow the country’s economy by attracting international investors through an improved ecosystem.

Reported by Paul Mlowoka

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