Public Management

Malawi secures $157mln from World Bank for land and water projects

Malawi secures $157mln from World Bank for land and water projects
Tuesday, 07 July 2020 16:53

The World Bank agreed to disburse $157 million to support the Malawi Watershed Services Improvement Project (MWASIP), which aims to increase sustainable landscape management in watersheds and improve rural livelihoods.

The financing is composed equally of a loan and a grant ($78.5 million for each) from the International Development Association (IDA), the World Bank said in a July 6 statement. The targeted projects aim to provide $40 million in livelihood support to more than 250,000 beneficiaries through community subsidy programs designed to encourage better land management. It also includes $45 million for the construction of water facilities, including 10 small multipurpose dams, 20 rainwater harvesting structures, and 10 small-scale irrigation systems to increase access to water for productive uses.  

The project will enhance the capacity of watershed management institutions at all levels to sustain interventions beyond the project and build on the success of another World Bank-supported project, the Shire River Basin Management Project, which the Government of Malawi implemented from 2012 to 2019,” the statement said.

Overall, the government expects the project to generate 2,500 additional jobs in the construction sector.

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Bank of Botswana raises key interest rate to 3.5% amid liquidity crunch Move responds to rising interbank rates, falling diamond revenues, and...
Coris Bank Q3 profit rises 6.25% to $93.5M on stronger operations Deposits up nearly 10%, but customer loans fall 3.2% year-on-year Bank...
Net profit fell to CFA11.9 billion amid rising raw material prices. Revenue increased slightly by 1.36% to CFA173.4 billion. The company expects...
Net profit rose to CFA83.3 billion, driven by cost control and strong activity. Customer deposits increased 13.9% to CFA2,939 billion. Loan-to-deposit...
Most Read
01

Wave launches Wave Bank Africa in Côte d'Ivoire with $32M capital Move follows €117M fu...

Wave Launches Commercial Bank in Côte d’Ivoire
02

Sonatel is a major telecom company in West Africa that investors trust, offering steady growth and...

Sonatel Stock Nearly 19% Rise Over the Year, Signals Undervalued Telecom Giant Poised for Further Growth
03

Cameroon's Constitutional Council declared Paul Biya the winner of the presidential election, secu...

Presidential Elections: Paul Biya Declared Winner in Cameroon, Alassane Ouattara Favorite in Ivory Coast
04

Safaricom's M-Pesa integrated with Ethiopia's national payment network, EthSwitch, on October 27. ...

Safaricom Integrates M-Pesa Into Ethiopia's Payment Rail
05

ECCBC invests $77.6M to expand Morocco plant, boosting output by 40% New lines produce soft ...

Moroccan Bottler ECCBC Invests $77.6 Million to Grow Its Operations
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.