Africa-Press – Malawi. President Lazarus Chakwera says the Government has secured a US$350 million which is approximately MK350 billion package for Malawi’s second Compact from the board of directors of the Millennium Challenge Corporation (MCC).
Writing on his Facebook wall Chakwera said the signing of the amount is expected to take place in Washington DC next month. He said to qualify for the compact, the country had to pass a rigorous set of tests designed to ensure that it has a credible Government and stable environment for socio-economic investment.
Chakwera said the Millennium Challenge Corporation that the country scorecard passed, measured the commitment to ruling justly, investing in people and promoting economic freedom.
He said the second compact will go towards infrastructure projects, such as the construction of modern roads, in both urban and rural areas, that will spur economic growth and reduce the cost of transporting goods and people for generations to come.
“As a result of this intervention, strategic linkages between farms and markets will finally open, easing the movement of profitable goods by our smallholder farmers,” said Chakwera.
The Malawi leader added that the official signing of the compact will open opportunities for further investment into the country, as it will be a signal to those investors that have been invited in the country to test whether our economy is fertile ground for sowing seeds.
He then thanked MCC and the US Government for their partnership in ensuring that Malawi is set up to succeed, and accomplish its Vision 2063 of becoming a self-reliant and inclusively wealthy nation.
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