The World Bank Group’s Board of Executives has developed a new Country Partnership Framework – CPF for Malawi towards supporting the country’s priorities which are set out in Malawi 2063 development agenda.
The five-year framework will see the Bretton Wood institution supporting Malawi in job creation and economic growth.
Country Director responsible for Malawi, Tanzania, Zambia and Zimbabwe, Mara Warwick has described the development as a pivotal moment as the World Bank Group is renewing its support for the country.
“Our program will consolidate World Bank Group investments where we can make an impact: particularly in opening new opportunities for commercial agriculture and in ensuring women are empowered to participate fully in the economy,” Warwick said.
On his part, Finance Minister Felix Mlusu is expressing optimism that in the next five years, the Bank will help Malawi strengthen its foundations to transforming into a middle income nation.
“COVID-19 has slowed our economy. Investments are needed that can stimulate economic recovery and to our vision of reaching lower-middle-income status by 2030. This requires a solid, ” said Mlusu.
Meanwhile, the National Planning Commission – NPC is calling on the citizenry to cultivate interest in the development agenda with a positive attitude over its realisation.
The call from NPC Director General Thomas Munthali follows observations that old doubts are still being expressed on the 2063 vision’s implementation, drawing lessons from its predecessor Vision 2020.
with such international support the NPC is optimistic of realisation of the development agenda.
“There are also many of us who are optimistic and are determined to make MW2063 different. There are so many things that give us hope that MW2063 will be a game changer and that is will be one planning document that will be associated more with action and results than just its beautiful terminology,” Munthali stressed.
According to the Word Bank, the CPF has 3 strategic focus areas which include, bolstering foundations for growth and accountability; promoting private sector-led jobs and livelihoods and strengthening human capital development.
The CPF is a joint strategy of the three members of the World Bank Group (WBG): IDA, also known as the World Bank, the IFC, which is focused on the private sector in developing countries, and MIGA, which provides political risk insurance to private sector investors and lenders.