{"id":9844,"date":"2021-11-19T19:05:47","date_gmt":"2021-11-19T19:05:47","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/government-to-probe-loans"},"modified":"2021-11-20T19:35:10","modified_gmt":"2021-11-20T19:35:10","slug":"government-to-probe-loans","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/government-to-probe-loans","title":{"rendered":"Government to probe loans"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>President Lazarus Chakwera has said his administration is investigating some government loans that were acquired before he ascended to the country\u2019s top leadership position.<\/p>\n

He said the country was failing to recover from current economic hardships because of those loans. Chakwera said this in Salima District Tuesday, when he switched on a 60 megawatts (mw) solar power facility valued at $75 million [K61.1 billion].<\/p>\n

\u201cThe country is struggling to meet International Monetary Fund and World Bank standards just because, in the past years, some individuals signed huge loans that have put pressure on the country\u2019s economy. It is disappointing to see that the huge amount of loans will continue to haunt generations to come,\u201d he said.<\/p>\n

Chakwera welcomed the 60mw solar power facility, describing it as the first in Malawi to connect to the national grid. He said the government\u2019s desire was to reach the target of 1,000mw with private sector support.<\/p>\n

The President ordered Secretary for Energy and the Director of Energy to bring a report to his office of every Independent Power Producer (IPP) that has written the Ministry of Energy in the past two years to express interest in investing in the energy sector.<\/p>\n

Chakwera\u2019s order comes amid reports that some IPPs\u2019 applications were gathering dust at the Ministry of Energy. \u201cWe simply cannot afford to be wasteful of investment offers that come our way. We cannot, and we must not, allow that to happen,\u201d the President said.<\/p>\n

JCM Chief Executive Officer Christian Wray said they had developed a regulatory framework that would serve as a template for future renewable energy projects in the country.<\/p>\n

British High Commission Charg\u00e9 d\u2019affaires Fiona Ritchie said the United Kingdom (UK) was proud of the collaboration on the JCM Salima Project, where one of its development finance vehicles \u2018Infra Co Africa\u2019 is a project shareholder through an equity investment of about 25 percent.<\/p>\n

\u201cThrough Infra Co Africa, the UK is also directly investing in JCM\u2019s Golomoti sister project through an equity investment of about 49 percent while also providing grant funding for the state-of-the-art battery component which will ensure the stability of the grid,\u201d Ritchie said.<\/p>\n

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

Africa-Press – Malawi. President Lazarus Chakwera has said his administration is investigating some government loans that were acquired before he ascended to the country\u2019s top leadership position. He said the country was failing to recover from current economic hardships because of those loans. Chakwera said this in Salima District Tuesday, when he switched on a […]<\/p>\n","protected":false},"author":84,"featured_media":9843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[233,371,3398,306,234,3397],"class_list":["post-9844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-malawi","tag-fiona-ritchie","tag-lazarus-chakwera","tag-malawi","tag-solar-power-plant"],"yoast_head":"\nGovernment to probe loans - Malawi<\/title>\n<meta name=\"description\" content=\"President Lazarus Chakwera has said his administration is investigating some government loans that were acquired before ...\" \/>\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\/government-to-probe-loans\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government to probe loans\" \/>\n<meta property=\"og:description\" content=\"President Lazarus Chakwera has said his administration is investigating some government loans that were acquired before ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-to-probe-loans\" \/>\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=\"2021-11-19T19:05:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-20T19:35:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/11\/img-61994dbe41f5f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"709\" \/>\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=\"2 minutes\" \/>\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\/government-to-probe-loans#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-to-probe-loans\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Government to probe loans\",\"datePublished\":\"2021-11-19T19:05:47+00:00\",\"dateModified\":\"2021-11-20T19:35:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-to-probe-loans\"},\"wordCount\":373,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-to-probe-loans#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/11\/img-61994dbe41f5f.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Fiona Ritchie\",\"Lazarus Chakwera\",\"Malawi\",\"Solar Power Plant\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-to-probe-loans#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-to-probe-loans\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-to-probe-loans\",\"name\":\"Government to probe loans - 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