Nov 20, 2017 Last Updated 2:48 PM, Nov 20, 2017

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 6217 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. 

145 comments

  • Comment Link Therese Therese Wednesday, 25 October 2017 06:09

    Hey I know this is off topic but I was wondering if you
    knew of any widgets I could add to my blog that automatically tweet my newest twitter updates.
    I've been looking for a plug-in like this for quite some time and was
    hoping maybe you would have some experience with something like
    this. Please let me know if you run into anything.
    I truly enjoy reading your blog and I look forward to your new
    updates.

  • Comment Link Reece Reece Tuesday, 24 October 2017 20:09

    I am regular reader, how are you everybody? This paragraph posted at this web site is actually
    fastidious.

  • Comment Link Latosha Latosha Tuesday, 24 October 2017 19:46

    Very good blog you have here but I was wondering if you knew of any user discussion forums that cover the same topics discussed here?
    I'd really love to be a part of online community where I can get responses from
    other knowledgeable people that share the same interest.
    If you have any suggestions, please let me know. Kudos!

  • Comment Link Carina Carina Tuesday, 24 October 2017 15:40

    If you are going for best contents like myself, simply go to see this web
    page every day since it gives quality contents, thanks

  • Comment Link testt testt Friday, 20 October 2017 16:10

    I admire your work , thankyou for all the informative posts .

Leave a comment

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

Capital Tweets

高兴🇲🇼🇲🇼 kaykintu 高兴🇲🇼🇲🇼

RT @CapitalFMMw: District authorities in Nsanje issue a fresh appeal to communities living in disaster prone areas to move to safer places.…

6 hours, 11 minutes ago Reply Retweet Favorite
Inspire Malawi inspire_malawi Inspire Malawi

We paint teaching tools onto classroom walls #education #Malawi #volunteer @CapitalFMMw @UKinMalawi @MalawiUNICEF… https://t.co/x2gLvjjeYn

6 hours, 20 minutes ago Reply Retweet Favorite
Arlene Osman-Grimes Arlene_Grimes Arlene Osman-Grimes

@WezieNyirongo @CapitalFMMw What is the response from people in the lower Shire?

6 hours, 37 minutes ago Reply Retweet Favorite
M∆de in ∆frica™ gome_guyMw M∆de in ∆frica™

RT @CapitalFMMw: The state controlled broadcaster-MBC is criticized for failing to comprehensively provide coverage to the #Zimbabwe politi…

7 hours, 28 minutes ago Reply Retweet Favorite
Austin Kakande AustinKakande Austin Kakande

@CapitalFMMw @JaneKaongaCFM @RhodesMsonkhoJn Some criticisms towards MBC are just baseless. why should MBC cover zi… https://t.co/ISDi5tziKi

7 hours, 40 minutes ago Reply Retweet Favorite

Find Us on Facebook