Malawi Leader Seeks More World Bank Aid at Africa Summit
Malawi, a dense nation of about 19 million people, remains one of the world's least developed countries, ranking 174th out of 189 on the Human Development Index.
LILONGWE, Malawi— Malawi's president said Sunday he will use an upcoming World Bank meeting in Kenya to appeal for increased financial support to help the southern African nation recover from climate change disasters and other economic shocks, writes Winston Mwale.
President Lazarus Chakwera said he intends to make a strong case for aid at the International Development Association Africa Heads of State Summit opening Monday in Nairobi, Kenya.
He said the IDA, part of the World Bank that assists the poorest countries, has been pivotal in advancing Malawi's development goals through financing various key sectors.
"We are going there to seek more support in form of resources to upscale efforts in addressing the social and economic shocks rendered on our country by climate change induced disasters and other geopolitical inconveniences," Chakwera said.
He expressed hope the summit will lead to "tailored assistance" for Malawi toward priorities like job and wealth creation, infrastructure, health care, education and climate change resilience.
The IDA's support has allowed Malawi and other recipient nations to invest in their development and provide basic services amid economic shocks, according to the World Bank.
The association provides interest-free loans and grant financing for projects aimed at boosting economic growth and reducing poverty.
Malawi, a dense nation of about 19 million people, remains one of the world's least developed countries, ranking 174th out of 189 on the Human Development Index.
It has struggled with economic challenges including high inflation despite recovery efforts since the COVID-19 pandemic.