Malawi and World Bank Ink MK125 Billion Deal to Bolster Social Protection Programs
The Malawian government and the World Bank have officially sealed a landmark agreement, signing the MK125 billion Malawi Social Protection Multi Donor Trust Fund (MDTF). This significant funding initiative is set to provide crucial support to vulnerable populations in the country.
Contributions to the fund have been made by various donors, including the British Council Malawi, USAID Malawi, the European Union in Malawi, Norway, and the Embassy of Iceland in Lilongwe.
The signing ceremony, attended by key government officials, development partners, and ministers of various portfolios, was witnessed by Minister of Finance and Economic Development, Simplex Chithyola-Banda.
Minister Chithyola-Banda expressed gratitude for the support from the country’s partners, emphasizing that the funding aims to enhance livelihoods and reduce poverty across Malawi.
He outlined specific measures that would benefit from the financial injection, including the reintroduction of urban social cash transfers, scaling up existing programs, implementing enhanced public works, and expanding coverage nationwide.
“The support from our partners today directly contributes to measures such as re-introducing urban social Cash transfer, scaling up existing programs, implementing enhanced public works, and expanding coverage nationwide. Together, we strive to reduce vulnerability and ensure no one is left behind in our development efforts,” stated Chithyola-Banda.
Royal Norwegian Ambassador to Malawi, Ingrid Mikelsen, highlighted that the funding would ensure that basic needs for vulnerable populations are met through cash transfers.
Similarly, EU Ambassador to Malawi, Rune Skinnebach, expressed optimism that the funding would enhance efficiency in reaching targeted beneficiaries.
The World Bank representatives disclosed that two ongoing programs are actively assisting communities dealing with crisis shock responses in four cities and addressing the aftermath of Cyclone Freddy in fourteen districts across the country.
The MK125 billion agreement reflects a collaborative effort to bolster social protection programs in Malawi, aiming to uplift vulnerable communities and contribute to the nation’s overall development goals.
Source: Malawi24
