Malawi seals a US$350 million MCC deal with America

By Antony Isaiah Jr:

Malawi and America have on Wednesday signed a US$350 million Millennium Challenge Corporation (MCC) in Washington DC which the state President, Dr Lazarus Chakwera has described as a deal to catalyst Malawi’s economy.

Chakwera and the minister of finance, Sosten Gwengwe on behalf of Malawi signed a deal with the United States Secretary Antony Blinken and a compact is expected to be directed to infrastructure development in the country.

Making his remarks after signing the deal, Chakwera said the deal has come at the right time as his government is striving to create a conducive environment for private sectors growth.

“The Millennium Challenge Corporation second compact for Malawi comes at the right time as it will augment my government’s efforts to create a conducive environment for private sector growth, especially to benefit smallholder farmers in rural areas.

“This is very important program for Malawi and attests not only to the long-standing cordial relations between Malawi and United States, but also to the progress Malawi has made in recent months to meet the exacting standards of the Millennium Challenge Corporation scorecard on the policies we have implemented for the advancement of governance, economic freedom, democracy, people centred investments, and the fight against corruption in our country,” said Chakwera.

In his remarks, Blinken has vowed the United States’ commitment towards Malawi’s socio-economic development by investing in key sectors like infrastructure development.

“The United States is dedicated to finding solutions that Malawi is facing and its people,” said Blinken.

He says US is eager to create public health opportunities, fighting hunger, building a better future of opportunities for people.

“We know that when working together, we can accomplish our changes for our people, that’s what today’s day is all about, accomplishing the real change for the people of Malawi,” added Blinken.

Meanwhile, the state Vice President, Dr Saulos Chilima has hailed Dr Chakwera for the effort in securing the deal saying the deal will help in the development of Malawi’s economic growth.

“Your Excellency, this is indeed historic and great news for the country, coming at a right time. The compact will assist the people of Malawi in addressing the root causes of stagnant economic growth through three key projects namely: The Accelerated Growth Corridors (AGC Project),the Increased Land Productivity Project and the American Catalyst Facility for Development (ACFD Project) .

“The end goal is to reduce poverty through economic growth through the construction of roads in rural areas to help farmers easily access markets, among others,” wrote Chilima.