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US govt’s $350M Compact Pack for Malawi rolls into life

Malawi has rolled out the implementation of a multi-million Dollar US Government-funded grant aimed at unlocking Malawi’s economic growth and reducing poverty.

Speaking during an interface in Dallas in the United States, President Dr Lazarus Chakwera said the launch of the five-year $ 350 Million grant   (about K612 billion)  by the US Government’s agency Millenium Challenge Corporation(MCC) marks the attainment of a long-awaited milestone.

“Under the second Compact, the plan is to construct four corridor roads. The focus is to resolve significant problems in linking farms. My Government is committed to upholding principles of accountability, transparency, patriotism, integrity, innovation and responsiveness in the implementation of the compact,” he said in part.

“My Government is committed to upholding principles of accountability, transparency, patriotism, integrity, innovation and responsiveness in the implementation of the compact,” Chakwera said.

In her remarks at the George W. Bush Presidential Centre, MCC Chief Executive Officer, Alice Albright, underscored the enduring ties between her agency and Malawi, adding that the Compact is a testament of joint investment in the people of Malawi.

According to the Ministry of Finance, the investment, which will benefit over 5 million people, partly seeks to improve road maintenance reforms and productive land use, while driving inclusive economic growth.

Malawi implemented her first Compact between 2013 and 2018, which focused on expanding the country’s power grid.

President Chakwera is in Texas in the United States for the 16th US – Africa Business Summit.

 

By Mirriam Kaliza

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