Luanar, CDHIB ink K60m deal to promote innovations
CDH Investment Bank (CDHIB) has signed a partnership agreement with the Lilongwe University of Agriculture and Natural Resources (Luanar) to fight climate change and promote innovations in the country.
The two institutions have signed a three-year memorandum (MoU)of understanding worth $57 901 (K60 million).
The MoU will see CDHIB provide funding for Luanar to carry out three strategic initiatives namely, annual Luanar tree-planting initiative, agri-innovation challenge for staff and provide at least five innovative scholarships to secondary students to study at Luanar.
Speaking on Friday in Lilongwe during the signing ceremony, CDHIB executive director Beatrix Mosiwa Ndovi said the funding seeks to create value for the nation by supporting a green economy and improving access to education for talented students.
She said: “As CDHIB celebrates 10 years of banking operations under the theme, Creating Value, we are committed to giving back to the community and country by supporting initiatives that will help develop our nation.
“We believe that investment in our environment, innovation and supporting the education of talented needy students, creates value in the development of our nation as these initiatives positively contribute to the overall growth of our nation.”
Mosiwa Ndovi said the funding resonates well with the bank’s core purpose which seeks to see the growth of Malawi in all sectors.
Luanar vice-chancellor Emmanuel Kaunda hailed the bank for the financial support, saying it will help the university achieve its efforts in fighting deforestation and addressing issues of climate change.
He said Luanar will plant over 10 000 trees this year following the support. Last year the institution planted about 3000 trees.
Said Kaunda: “The idea of afforestation and the idea of greening our country goes long way to alleviating issues that we have in terms of climate change and many issues we are experiencing today.”
The innovation challenge will see the university help provide solutions to agriculture problems in societies. The Innovation challenge is for the staff at the university
On the students scholarships, Kaunda emphasized that scholarships will assist a pool of talented needy students from secondary schools.
He assured the bank that the funds will be used for the intended use and contribute to addressing challenges facing the country.
