Malawi and the United States African Development Foundation (USADF) on Friday agreed to join hands in a grassroots economic and social development programme aimed at expanding access to economic opportunities for local communities.
USADF is a US government agency dedicated to expanding access to economic opportunity in Africa.
The agency operates in several African nations, with over 25 years of operational experience and has funded nearly 1,100 projects costing in excess of US$150 million — in enterprises and local communities.
Malawi is third country which USADF has launched new programmes during the fiscal year 2008.
Similar programmes have been launched in Burundi, Mauritania and Burkina Faso.
Under the five-year agreement from 2008 to 2012, the US body will disburse US$7million for projects, and the Malawi government will contributing 50 percent of the annually funding.
Minister of Finance Goodall Gondwe said USADF compliments the various activities taking place in Malawi currently. "Malawi appreciates USADF\’s assistance and dedication and looks forward to their support," he said, adding that Malawi has pledged to contribute US$750,000 per annum to match the body’s funds.
USADF Portfolio President Lloyd Pierson said his agency was excited to sign the agreement with Malawi. "We are determined to fund programmes at an expedited pace to meet the needs of the people of Malawi."
Friday 17 October 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment