President Peter Mutharika on Wednesday met officials from Millennium Challenge Corporation (MCC) with whom he discussed key issues surrounding the Millennium Challenge Account (MCA) Malawi energy compact.
In a statement on the meeting made available to The Nation, MCC vice-president Kamran Khan said the meeting was fruitful as it provided a platform for the top tier of both institutions (Malawi and MCA) to take stock of how the agreement is progressing.
MCA-Malawi was tasked with the mandate to implement various activities that lead to the development of the Power Sector Revitalisation Project that will provide investments in Infrastructure Development, Power Sector Reform and Environmental and Natural Resources Management. This is aimed at stimulating economic growth and contributing towards reduction of poverty in Malawi.
Khan noted that the US Government through MCC is on track in its operations focusing on the energy sector in enhancing power generation, transmission and distribution in the country.
Under the project, the pact is set to revamp and realign the operations of the sole power utility Electricity Supply Corporation of Malawi (Escom) to improve its efficiency in service delivery.
Earlier this week, MCA-M signed five contracts with five firms for the construction of the 400kV and 132kV power lines and substations, and the rehabilitation, modernisation and upgrading of NkulaA Hydro Power Plant.
The $350.7 million MCC compact agreement between Malawi and the United States of America is the largest single investment Malawi has received for the energy sector ever.
Prior to the MCC meeting, Mutharika also held talks with Global Leadership Foundation (GLF) which was represented by its vice-chairperson and former prime minister of Canada Joe Clark.