{"id":33077,"date":"2022-10-20T21:17:47","date_gmt":"2022-10-20T21:17:47","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/badea-rescues-malawi-from-fuel-crisis-with-us50m-aid"},"modified":"2022-10-20T22:12:52","modified_gmt":"2022-10-20T22:12:52","slug":"badea-rescues-malawi-from-fuel-crisis-with-us50m-aid","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/badea-rescues-malawi-from-fuel-crisis-with-us50m-aid","title":{"rendered":"BADEA rescues Malawi from fuel crisis with US$50m aid"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>The Arab Bank for Economic Development in Africa (BADEA) board has approved a US$50million Fuel financing revolving facility for National Oil Company of Malawi (NOCMA).<\/p>\n

NOCMA will use the first tranche of the amount towards immediate procurement of fuel product which include replenishment of the strategic fuel reserves stocks once all the relevant paperwork is finalized.<\/p>\n

The fuel financing facility agreement is between NOCMA and BADEA with Malawi Government as a guarantor through the Ministry of Finance. Through this, NOCMA will be fully responsible in directly servicing the facility.<\/p>\n

It is said that the move will now allow NOCMA to channel some of the financing sourced from local banks towards addressing the current fuel shortages in the Country.<\/p>\n

Further, approximately US$28million from the amount will go directly towards daily fuel requirements, as the NOCMA works to address the fuel supply shortages recently experienced in the Country. According to NOCMA, urrently, some operations towards restoring the fuel supply situation in the country are already underway.<\/p>\n

The company further believes that the situation of fuel scarcity will now be a story of the past as high volumes of fuel product are now entering the country on a daily basis, a situation which has seen reduced queues at filling stations across the country.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. The Arab Bank for Economic Development in Africa (BADEA) board has approved a US$50million Fuel financing revolving facility for National Oil Company of Malawi (NOCMA). NOCMA will use the first tranche of the amount towards immediate procurement of fuel product which include replenishment of the strategic fuel reserves stocks once all the […]<\/p>\n","protected":false},"author":84,"featured_media":33076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,410],"tags":[233,371,234],"class_list":["post-33077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-to-homepage","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"\nBADEA rescues Malawi from fuel crisis with US$50m aid - Malawi<\/title>\n<meta name=\"description\" content=\"The Arab Bank for Economic Development in Africa (BADEA) board has approved a US$50million Fuel financing revolving faci ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/badea-rescues-malawi-from-fuel-crisis-with-us50m-aid\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BADEA rescues Malawi from fuel crisis with US$50m aid\" \/>\n<meta property=\"og:description\" content=\"The Arab Bank for Economic Development in Africa (BADEA) board has approved a US$50million Fuel financing revolving faci ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/badea-rescues-malawi-from-fuel-crisis-with-us50m-aid\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-20T21:17:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-20T22:12:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/10\/postQueueImg_13-6351c79c76208.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"394\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/badea-rescues-malawi-from-fuel-crisis-with-us50m-aid#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/badea-rescues-malawi-from-fuel-crisis-with-us50m-aid\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BADEA rescues Malawi from fuel crisis with US$50m aid\",\"datePublished\":\"2022-10-20T21:17:47+00:00\",\"dateModified\":\"2022-10-20T22:12:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/badea-rescues-malawi-from-fuel-crisis-with-us50m-aid\"},\"wordCount\":234,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/badea-rescues-malawi-from-fuel-crisis-with-us50m-aid#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/10\/postQueueImg_13-6351c79c76208.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\"],\"articleSection\":[\"all news\",\"economy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/badea-rescues-malawi-from-fuel-crisis-with-us50m-aid#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/badea-rescues-malawi-from-fuel-crisis-with-us50m-aid\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/badea-rescues-malawi-from-fuel-crisis-with-us50m-aid\",\"name\":\"BADEA rescues Malawi from fuel crisis with US$50m aid - 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