AfDB approves $54M grant to boost Malawi’s agriculture sector – Capital Radio Malawi
10 February, 2025

AfDB approves $54M grant to boost Malawi’s agriculture sector

Chithyola-Banda: More support is coming from the same bank

The African Development Bank (AfDB) has approved a substantial $54 million grant to support Malawi’s agriculture productivity and commercialization.

Minister of Finance and Economic Affairs, Simplex Chithyola Banda, confirmed the development, stating that the funds will be allocated to various initiatives, including the Department of Disaster Risk Management (DODMA) for procurement of relief maize.

“The support includes $30 million, $23 million, and $1 million, all coming separately with different purposes from the African Development Bank,” Banda explained.

“More support is coming from the same bank.”

The approval follows President Lazarus Chakwera’s 2024 Malawi Partners Conference, held on the sidelines of the 79th session of the United Nations General Assembly (UNGA).

During the conference, President Chakwera met with AFDB Group President Dr. Akinwumi Adesina and other high-level leaders.

Banda emphasized that the AfDB’s intervention will empower young people to venture into the agriculture sector, promoting economic growth and increasing exports.

“President Chakwera highlighted policies to empower young people to go into the agriculture value chain, participating in the country’s economic growth and increasing exports.” – He said.

“This development is a significant boost to Malawi’s economy, which has been recovering from the impact of Cyclone Freddy.”

The AfDB’s support aligns with its country strategy for 2023-2028, prioritizing energy, transport, water, and agriculture.

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