World Bank Country Manager for Malawi Hugh Riddell has underscored the bank’s commitment to bolstering the resilience of vulnerable communities through the provision of social protection interventions and budget support amidst economic uncertainties triggered by the Kwacha’s devaluation.
Riddell made the remarks in Karonga on Tuesday, after touring projects and interventions that the World Bank is supporting in the district.
In an interview the Country Manager, disclosed that the Bank plans to roll out urban social cash transfers that target 105 thousand households in four major urban areas.
Saying this will be rolled out to cushion them from economic challenges including price hikes of basic commodities and fuel spurred by the devaluation.
“As a bank we have significantly scaled up our interventions as a result of external shocks and natural calamities that the country has experienced over the past two years.”
“We are also aware that because of the devaluation hard choices are being made in the economy to establish a firm foundation for recovery and we want to support that through a number of interventions that the bank has lined up.” Riddell Explained.
On her part, Kate Langwe Director responsible for Poverty Reduction and Social Protection in the department of Economic Planning and Development, said she was encouraged to observe that the resources that the World Bank had pumped in is assisting the vulnerable communities become self-reliant and move out of abject poverty.
She said, “As Government we are extremely encouraged that the effort that we are making through the Social Support for Resilient Livelihood Project is making a difference and transforming lives of beneficiaries,”
In his remarks Senior Chief Wakaboko, commended his subjects for taking ownership of projects, adding that they are ready to sustain the activities even in the event that the Bank stop providing financial assistance.
Scalable Social Cash Transfer Program is a government of Malawi initiative falling under the Social Support for Resilient Livelihoods project being funded by the world bank and sp mdtf through the national local government finance committee.