World Bank is providing immediate support of $57.6 million grant (approximately K115 billion) to support millions of Malawians severely affected by the ongoing food crisis.
A statement on the bank’s website says a quick release of the money in innovative grant financing is designed to provide the country immediate liquidity through the Catastrophe Deferred Drawdown Option.
It says this support comes in the context of the severe food crisis Malawi is suffering due to El Niño conditions in the wider southern Africa region.
The statement further says a series of intense disaster events over the last few years has left almost no time for Malawi to recover and has resulted in a severe erosion of food security at the national level.
The grant comes following the declaration of the national disaster by President Dr Lazarus Chakwera on March 23 this year.
