Tag Archives: Shire Valley Transformation

Business

Malawi Parliament approves MK140bn loan for Shire valley Transformation project

Maravi Post Reporter

By Dorica Mtenje

LILONGWE-(MaraviPost)-Malawi Parliament passed Shire Valley Transformation Program-Phase 2 Loan Authorisation Bill to allow Government to borrow MK140 billion from the International Development Association of the World Bank.

Nkula power station B

Minister of Finance, Sosten Gwengwe revealed this in the August house on Tuesday, July 26, 2022.

Gwengwe said the repayment period for the loan is 32 years and attracts an interest rate of 0.75 percent.

The Minister said the value of the loan is as same as a gift as it’s interest is as the same as giving out nothing.

He said the loan will help the country to improve the Hydro power project which will boost up the electricity power supply in the country.

Meanwhile the country still experiencing frequent blackouts due to the destruction of Kapichira Hydro power station which lost 130 megawatts due to cyclone ANA.

Lifestyle, Technology

An Agenda to Transform Malawi’s Irrigated Agriculture: World Bank Approves $166 Million

MaraviPost

The world bank

WASHINGTON, October 18, 2017— The World Bank has approved $166 million to transform Malawi’s agricultural productivity through irrigation, lay the foundations for commercialization, and improve management of natural resources in the Shire Valley.

The financing, approved today by the World Bank Board of Executive Directors is for the first phase of the Shire Valley Transformation Program (SVTP-I). The funding consists of a $160 million credit from the International Development Association*, and a $5.59 million grant from the Global Environment Facility Trust Fund. Continue reading An Agenda to Transform Malawi’s Irrigated Agriculture: World Bank Approves $166 Million →