Malawi Secures $45 Million from World Bank to Tackle Food Shortages
Share this:
The World Bank has approved US$45 million in emergency support to help Malawi address a looming food crisis, the Ministry of Finance announced on Friday.
Part of the funds will be used to import maize from Zambia, with the government paying US$335 per metric tonne for supplies from Chipata.
Additional support will come from the International Fund for Agricultural Development (IFAD) and the Chinese government, each contributing US$3 million to the national food relief effort.
Finance Minister Joseph Mwanamvekha, speaking at a media briefing in Lilongwe, revealed that the Chinese government has also forgiven US$20 million of Malawi’s debt, a move aimed at stabilizing the economy.
Apart from imports, the government plans to procure maize locally, giving Malawian farmers an opportunity to sell their produce.
Mwanamvekha explained that Zambia was chosen as a source due to its proximity, fair pricing, and unavailability of maize from local suppliers at competitive rates.
According to the Minister, the initiative will benefit around four million Malawians, based on the latest national survey.
He said the maize will be reserved for emergency response and distributed for free to vulnerable households.
On his part,Reserve Bank of Malawi (RBM ) Governor, Dr. Macdonald Mwale, assured that the government will make all necessary financial resources available to guarantee the timely purchase and distribution of maize and other essential food commodities.
This initiative comes amid growing concerns over food insecurity in Malawi, driven by erratic weather patterns, high inflation, and limited local maize availability.
About the Author
Discover more from NMtv
Subscribe to get the latest posts sent to your email.
