Malawi secures K350 billion MCC compact Malawi package

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Malawi secures K350 billion MCC compact Malawi package
Malawi secures K350 billion MCC compact Malawi package

Africa-Press – Malawi. Malawi has secured a US$350 million (almost MK350 billion) package for Malawi’s second Compact from the board of directors of the Millennium Challenge Corporation (MCC). President Dr Lazarus Chakwera says on his Facebook page that the signing will take place in Washington DC, US this coming month.

President Chakwera says to qualify for this Compact, Malawi had to pass a rigorous set of tests designed to ensure that Malawi has a credible Government and stable environment for socioeconomic investment.

“The MCC country scorecard that we passed measured our commitment to ruling justly, investing in people and promoting economic freedom,” says Chakwera.

He says the second Compact will go towards infrastructure projects, thus intensifying the country’s ambitious nationwide program of building 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,” says the Malawi leader.

Additionally, he says, the official signing of the compact next month will open opportunities for further investment into Malawi, as it will signal to those investors we have been inviting here that our economy is fertile ground for sowing seeds for the future and that our agro-industrialisation agenda will soon have the supporting roads to bring prosperity to rural farmers and other stakeholders along the Agriculture value chain.

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