National News

Malawi gets K42bn World Bank loan for roads

Malawi Government yesterday signed a loan agreement with the World Bank for $69 million (about K42 billion). The funds will be used for the improvement of the country’s main roads and upgrading border posts to facilitate regional trade. The programme will focus on M1 Road with several sections, mostly in the Northern Region, set to be rehabilitated. World Bank country manager Laura Kullenberg said the funds have been availed to Malawi from International Development Association (IDA) to ease the movement of goods and people. Minister of Finance, Economic Planning and Development Goodall Gondwe said the programme would also support feasibility study to assess options for and supporting the establishment of a National Single Window facility to promote trade facilitation. In the picture, Gondwe and Kullenberg shake hands after the signing ceremony.—JACOB NANKHONYA, Staff Writer

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