The African Development Bank (AfDB) has opened a new financing window for Malawi to help ease pressure on critical imports such as fuel and fertiliser.
The development comes as Minister of Finance, Economic Planning and Decentralisation Joseph Mwanamvekha is separately pushing for increased direct budget support from the AfDB, potentially giving Malawi access to additional foreign currency at a time when severe forex shortages are constraining imports.
Malawi is among the first countries invited to apply for financing under the AfDB’s Global Energy and Fertiliser Crisis Response Framework designed to help countries respond quickly to disruptions affecting critical imports.
Speaking during a meeting with Mwanamvekha on the sidelines of the Eighth Korea-Africa Economic Cooperation (Koafec) Ministerial Conference in Seoul yesterday, AfDB director general and acting vice-president for Africa Abdou Kamara said Malawi was among the countries initially selected to access the facility.
“If a crisis comes, we need to respond rapidly. Access to this facility is much easier because it is a response to a crisis,” he said.
Kamara said Malawi faced a rigorous assessment before being selected among the initial beneficiaries.
In an interview, AfDB executive director responsible for Malawi, Botswana, Mauritius and Zambia, Nalishebo Shebo, said he wrote the Malawi Government on Monday inviting it to submit a financing request.
The amount Malawi could access was not disclosed by yesterday as discussions on the financing were still underway.
Mwanamvekha confirmed that Malawi received the invitation and said the government has already submitted its request.
“We have already submitted the request for this funding. We had to act with speed because this is yet another opportunity for Malawi. We need more funding,” he said.
Shebo also said that the AfDB board approved $20.5 million (about K34 billion) on September 1 2026 for Malawi as direct budget support.
The funding follows a request Malawi submitted in May this year.
Mwanamvekha is today scheduled to meet AfDB president Sidi Ould Tah with additional budget support expected to be part of the agenda.
The push for additional financing comes as Malawi continues to face shortages of foreign exchange, which have constrained the importation of fuel, fertiliser and other essential commodities.
For Malawi, increased access to foreign currency for fuel and fertiliser imports could ease pressure on the economy while supporting agricultural production and reducing disruptions linked to fuel shortages.
Established in 2006, Koafec is a platform for economic cooperation between Korea and Africa. It brings together African finance ministers, government officials, development institutions and private-sector players to discuss financing, investment and economic transformation.
This year’s conference is being held under the theme ‘Harnessing AI and digital infrastructure for Africa’s transformation with discussions focusing on artificial intelligence, digital infrastructure, energy, trade, investment and human capital.
