Southern African country Malawi has smiled again after World Bank board of Executive Directors approved money for its wallet amounting to US$ 37.80 million meant to help in improving food security and sustainable agriculture.
A statement from the Bank’s headquarters in Washington released Wednesday said the granted amount to be provided through Agricultural Development Programme Support Project (ADP-SP) consists of a US$ 32 million International Development Association (IDA) credit, and a US$ 5.8 million Global Environment Facility (GEF) grant which is provided by the regional GEF investment programme for sustainable land management.
Malawi’s World Bank representative Timothy Gilbo said the bank strongly supports Malawi’s vision of advancing agricultural growth for its prosperity.
He said by improving its agriculture will be able to fight the current rising food prices and shortage which has forced other people in other countries to riot.
Gilbo said ADP’s main objective was to improve food security and generate agricultural growth.
The funds come in the awake of another donation of HIV/Aids books by United States last week.
The Warm Heart of Africa is also set to receive an additional US$ 10 million from the Brettonwoods institution of Norway with Malawi putting in an equivalent of US$ 2.3 million in kind.
Malawi’s local daily of The Nation said Thursday the ADP-SP will mainly focus on institutional development and capacity building in preparation for an agriculture sector wide approach (Swap) and sustainable food security.
Malawi’s Secretary for Agriculture and Food Security Andrew Daudi hailed the bank and Norway for the grant saying the ADP-SP represents the first coordinated donor commitment to the country’s Agriculture programme.
The Southern African country depends on Agriculture for its economy and some of its main cash crops include tobacco and tea.
Saturday, 28 June 2008
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