APM hails World Bank, Korean investor
Malawi President Peter Mutharika has thanked the World Bank and a major South Korean investor, who built the Dae Young Hospital complex in Lilongwe eight years ago, for giving the nation relief aid in the wake of floods which have ravaged parts of Malawi and for investing in more development projects.
Mutharika said this when he separately received in audience World Bank country director for Zambia, Zimbabwe and Malawi Kundhavi Kadiresan and South Korea-based Miracle for Africa Foundation chairperson You Keun Chung at Kamuzu Palace in Lilongwe on Wednesday.
After her audience with the President, Kadiresan told reporters that World Bank has released about K282 million ($600 000) from existing projects in the country, towards relief interventions for flood victims.
On his part, Chung announced a donation of 20 tonnes of maize, adding that he will extend the Dae Young complex and invest $25 million (K11.8 billion) to erect training institutions in the medical, education and agriculture sectors.
Over 600 000 people have been displaced by the floods, over the past month, with 67 killed and some 100 people reportedly missing.
“We wanted to come here and convey our deep condolences (over the devastating floods),” said Kadiresan, adding that World Bank is mobilising more support through a general relief appeal for Malawi.
The World Bank official, who was leading a three-member delegation, announced that the Bretton Woods institution has committed about $850 million (K400 billion) for boosting key projects in Malawi in sectors such as health, education, energy and agriculture in the next three years.
Asked whether World Bank could return to giving budget support to Malawi, she hinted at such a reversal if the Malawi Government works harder at closing loopholes that led to the scandal.
Kadiresan commended government for effecting stricter financial management systems, reforming the public service and collaborating with donors in trying to revive the Malawi economy.
Minister of Finance, Economic Planning and Development Goodall Gondwe described the World Bank delegation’s flood relief help and the institution’s continued aid as crucial to Malawi’s determination to revive the economy.
He said government plans to utilise a donors’ crisis response window by putting together a recovery plan that will address the woes the floods have wreaked on the people through the destruction of food crops, infrastructure and social amenities.
Gondwe said in the next three years, government wants World Bank aid to benefit more poorest people in rural areas through robust irrigation and Malawi Social Action Fund (Masaf) projects.
