By Jonah Pankuku:
Finance Minister Simplex Chithyola Banda has made an appeal for flexibility of the International Development Association (IDA) in supporting countries like Malawi to effectively respond to emergencies and natural disasters that heavily impact the economy and livelihoods.
IDA is an arm of the World Bank that provides assistance to the world’s 75 low-income countries to help them invest in their future and improve their lives.
Chithyola Banda was speaking on Thursday during the 2024 Global Goals Conference Dinner in Washington DC, United States of America.
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This is an international academic conference designed to support global debates on the future of the Sustainable Development Goals until and beyond 2030.
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In his presentation, Chithyola Banda also underscored the urgent need for IDA to invest in the country’s education and agriculture sectors as well as help strengthen systems to build resilience amid the recurring disasters.
IDA co-founder Kate Garvey commended Chithyola Banda for making what she described as powerful remarks.
“We hope that your conversations were insightful, inspiring and exciting. As we enter the second half of the goals, it is essential for us to work together to ensure this IDA replenishment is the largest ever because investing in IDA is investing in our future,” Garvey said.
Other speakers were Melinda French Gates from Bill and Melinda Gates Foundation and Andrew Mitchell, Minister of State (Development and Africa), the United Kingdom.
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Last month, President Lazarus Chakwera declared a State of Disaster in 23 out of the country’s 28 districts affected by the El Nino weather phenomenon and also appealed for support from both local and the international community.
Chakwera believes the natural disaster including Cyclone Freddy, have had an adverse impact on the country’s efforts to recover its economy with a staggering public debt of over K12 trillion.
