AfDB approves U$23m budget support to Malawi

LILONGWE-(MaraviPost)-The African Development Bank (AfDB) has given Malawi US$23 million (about MK40.2 billion) in budget support.

Minister of Finance and Economic Affairs Simplex Chithyola Banda confirmed the development saying said the support follows the implementation of the International Monetary Fund (IMF)’s Extended Credit Facility (ECF) programme and good leadership.

“This is a sign of confidence to the government,” he said.

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With my dear brother President of Malawi, Lazarus Chakwera at the UN Summit in New York, where I spoke at a special event on Malawi. The ⁦@AfDB_Group⁩ strongly supports Malawi. Malawi will arise! ⁦@LAZARUSCHAKWERA⁩ pic.twitter.com/SupmHmi8Q2

— Akinwumi A. Adesina (@akin_adesina) September 22, 2023

IMF mission is currently in Malawi assessing ECF programme implementing.