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LILONGWE-(MaraviPost)-The World Bank has lauded President Lazarus Chakwera’s administration for it’s prudence in the usage of resources that the country gets from the institution.
World Bank Country Director Nathan Belete made the remarks on Friday at Kamuzu Palace in Lilongwe, during an interface with President Chakwera.
In his remarks, the country director explained that unlike other countries, “The World Bank does not have have any fiducial issues with Malawi.”
“The money is spent well, it’s achieving results at faster rates than we have in other countries.
“Obviously we have other projects that give us a little grey hair than others but you should know that we have a strong portfolio and that your government is implementing these projects well,” he said.
Belete also hailed President Chakwera for championing the International Development Association (IDA) – a World Bank fund that provides grants and low-interest loans to the world’s poorest countries.
“The video you made has been seen widely across the globe. Your personal commitment to do that and the commitment of your team to make it happen. We really thank you for that because it has been tramendously helpful.
“I am sure you know that we were able to raise US$100 billion in December for IDA 21which was in the world of today, a huge achievement,” he said.
In his remarks, the Malawi leader expressed gratitude to the World Bank for always being a strong partner to Malawi.
He thanked the World Bank for it’s continued support to Malawi especially in the areas of agriculture, energy, and social protection.
“These are the critical areas where Malawi is struggling alot. The World Bank has been there for us. Your support has helped us to support the vulnerable. You are a friend for all seasons,” he said.
President Chakwera also assured the bank that his administration is working tirelessly to bring back the country’s economy on its feet.
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