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Malawi: Parliament passes US$150.1 million loan bill for electricity expansion
CategoryPress Releases
CountryMalawi
TagsEnergy Access, Finance and Investment
Malawi Parliament has passed a US$150.1 million loan bill, authorizing government to borrow from the International Development Fund for access to electricity project.
The money, according to the Minister of Finance, Economic Planning and Development Joseph Mwanamvekha will be used towards the implementation of the Malawi Electricity Access Project which aims to increase access to electricity in Malawi.
"The project has three components looking into grid electrification, off grid market development fund and technical support," Mwanamvekha said.
The bill was passed unanimously.
Meanwhile, the House has also authorized the government to borrow 80 million Euros and 15.5 million Euros from the European Investment Bank to rehabilitate the Kamuzu International Airport turn off in Lilongwe, Mzimba turn off road and Kacheche-Chiweta roads.
This is in additional financing on top of 43 million Euros grant from the bank for the project.
The first section will be the 102km from KIA turn off to Kasungu, followed by Kasungu to Jenda then Jenda to Mzimba turn off and finally Kacheche to Chiweta, according to Mwanamvekha.