Site icon The Times Group Malawi

Malawi to fund 7.5% of next compact

COMMITTED—Cairncross (second left), Mawindo (right) and other officials at the briefing

By Chimwemwe Mangazi:

Malawi is expected to contribute 7.5 percent of the total value of the next Millennium Challenge Corporation (MCC) compact, the Millennium Challenge Account (MCA) has said.

MCA-Malawi National Coordinator, Dye Mawindo, said this during a press briefing MCC Chief Executive Officer Sean Cairncross held in Blantyre Thursday.

Cairncross arrived in the country on Wednesday for a three-day tour of duty to, among other things, review the country’s social, political and economic status.

Addressing journalists, Mawindo said it was a prerequisite for countries qualifying for a second compact to contribute 7.5 percent to the project’s amount.

“The bar is much higher. But that can come in various forms, including if there is need for a contribution of land, for instance,” Mawindo said.

On his part, Cairncross said another MCA team of experts would come to the country to work with Malawi Millennium Development Trust in engaging potential beneficiaries, civil society, private sector and other donors on the project concept.

“Compact development typically takes two to three years of analysis and planning before a grant agreement can be signed. However, commitment to this process helps minimise project risks, ensures there is input from all stakeholders and sets the future programme up for success,” Cairncross said.

In December 2018, the MCC board agreed to provide Malawi with a five-year grant programme for putting up a strong performance on MCC’s scorecard, which focuses on good governance and curbing corruption, among other things.

The maiden $350 million compact came to an end in 2018.

It saw upgrading of hydro power stations, substations and establishment of modern power lines.

Facebook Notice for EU! You need to login to view and post FB Comments!
Exit mobile version