LILONGWE-(MaraviPost)-President Lazarus Chakwera’s leadership is slowly wining donor confidence despite economic turmoil.
Consequently, European Union (EU) on Wednesday, October 16, 2024 announced the resumption of budget support to Malawi after over 10 years.
With a total value of 55 million Euros, which translates to MK107.9 billion , of which 50 million Euros is allocated as direct budget support over a 30-month period.
The programme aims to enhance efficiency, effectiveness, and quality in the delivery of secondary education services by combining support for sector-specific processes with the strengthening of the overarching Public Financial Management framework.
EU Ambassador Rune Skinnebach described the resumption of budget support as a sign of confidence in the current adminstration.
A first disbursement of 20 million Euros is envisaged before the end of the year.
Finance Minister Simplex Chithyola Banda described the development as a big day for Malawi and has since hailed the EU for resumption of the budget support after a 10 year break