May 5, 2017 by Staff Reporter
“The Government has taken some very important reform steps and it is critical to maintain momentum and deepen reforms going forward to move Malawi out of the cycle of vulnerability and onto a positive development path,” she added.
The World Bank Board of Executive Directors has on 4th May, 2017 approved an $80 million credit to the Malawi Government for general budget support.
This is the first budget support financing approved by the World Bank for Malawi in four years.
The budget support operation, fully referred to as the Agricultural Support and Fiscal Management Development Policy Operation (DPO), is the first of a proposed series of two operations. It aims to improve incentives for private sector participation in agricultural markets and to strengthen fiscal management through more effective expenditure controls and greater transparency. The DPO supports a series of policy and institutional reforms that the Government of Malawi is undertaking in order to reduce distortions in, and improve the performance of the agricultural sector; and to restore basic public financial management and accountability systems.
“The Malawi Government is committed to ‘breaking the cycle’ of vulnerability in Malawi, by…
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