World Bank to release final K4.4bn for maize purchases
World Bank will release K4.4 billion ($6 million) it pledged to Malawi for the procurement of maize in the wake of the food shortage experienced in most parts of the country.
Treasury spokesperson Nations Msowoya said yesterday World Bank promised to give K11 billion for the purchase of maize of which K7 billion was released last year.
Said Msowoya: “World Bank has confirmed [it] will release the last chunk of the pledged money. The money is for the purchase of maize across the country.
“The process of maize purchase started last year and Admarc [Agricultural Development and Marketing Corporation] and [National Food Reserve Agency] NFRA already bought maize from Zambia and through computerised system. So, basically this will just be a continuation,” he said.
A recent Malawi Vulnerability Assessment Committee (Mvac) estimated that 2.8 million people will need food between October and March.
A report compiled last year by Admarc chief executive officer Foster Mulumbe says the State commodity buyer and seller needed about 18 000 metric tonnes (MT) of maize in its warehouse if the country is to be fully food sufficient from December 2015 to April this year.
“Admarc’s projection for commercial maize requirement starting from December 2015 to April 2016 is 48 000 MT. We project to require 4 000 MT for the remaining period of November 2015 and hence, we will start December with a stock balance of 30 000 MT of maize. The shortfall is, therefore, 18 000 metric tonnes to safely carry us through to April 2016,” he said.
