Sep 24, 2017 Last Updated 10:33 AM, Sep 22, 2017
×

Warning

JFile: :read: Unable to open file:

World Bank Yet To Release Aid To Malawi

The organisation approved the amount as budgetary support to Malawi almost two years after direct budgetary support was suspended The organisation approved the amount as budgetary support to Malawi almost two years after direct budgetary support was suspended Image sourced at gettyimages.com
Published in Business News
Read 1162 times
Rate this item
(0 votes)

The World Bank has not released the $80 Million support which it approved for the Malawi Government, the Reserve Bank of Malawi confirms.

The Breton Wood organisation approved the amount as budgetary support to Malawi almost two years after direct budgetary support was suspended.

During the presentation of the 2017/2018 National Budget, the Finance Minister Goodall Gondwe hinted that the funds would go towards the settlement of government arrears.

Almost two months into the new budget, there have been questions on whether the Government has started making payments for the various arrears it has with the private sector and various sectors in the civil service.

Commenting on the monetary status of the country, the Reserve Bank Governor, Dalitso Kabambe, indicates that they have not started stocking the National Forex Reserves with the World Bank funds.

The World Bank is an international financial institution that provides loans to countries of the world for capital programmes.

It comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA). The World Bank is a component of the World Bank Group. 

The World Bank's stated official goal is the reduction of poverty.

However, according to its Articles of Agreement, all its decisions must be guided by a commitment to the promotion of foreign investment and international trade and to the facilitation of capital investment. 

28 comments

  • Comment Link Reinaldo Reinaldo Monday, 28 August 2017 03:41

    I'm truly enjoying the design and layout of your website.
    It's a very easy on the eyes which makes it much more pleasant for
    me to come here and visit more often. Did you hire out a developer to create your theme?

    Fantastic work!

  • Comment Link Susanna Susanna Sunday, 27 August 2017 23:34

    It is the best time to make some plans for the
    future and it's time to be happy. I have read this post and
    if I could I wish to suggest you some interesting things or advice.
    Maybe you can write next articles referring to this article.
    I desire to read even more things about it!

  • Comment Link Cassandra Cassandra Sunday, 27 August 2017 16:45

    Hi, all is going sound here and ofcourse every one is sharing information, that's in fact excellent,
    keep up writing.

  • Comment Link Diego Diego Sunday, 27 August 2017 10:27

    I like reading an article that will make people think. Also, thanks for allowing me
    to comment!

  • Comment Link Daisy Daisy Sunday, 27 August 2017 10:27

    It's actually a great and useful piece of information. I am
    glad that you simply shared this useful information with
    us. Please keep us informed like this. Thank you for
    sharing.

Leave a comment

Make sure you enter the (*) required information where indicated.Basic HTML code is allowed.

Capital Tweets

Any data to display

Find Us on Facebook