12.1 C
Lilongwe
Thursday, June 13, 2024
More

    Latest Posts

    MCC CONTRIBUTION TO MALAWI’S DEVELOPMENT CELEBRATED AT 20TH ANNIVERSARY

    The Millennium Challenge Corporation (MCC) has clocked 20 years. Malawi President Dr. Lazarus McCarthy Chakwera, highlighted during the commemoration event how transformative the corporation has been to Malawian livelihoods through the two compacts, one in energy and another in road infrastructure.

    The President expressed gratitude to MCC and the American people for their unwavering support to Malawi since 2005.

    This support has manifested not only through the MCC but also through America’s instrumental role in helping Malawi secure the International Monetary Fund’s Extended Credit Facility.

    Malawi’s association with the MCC dates back to 2005 when the groundbreaking US$20.9 million Threshold Programme was launched.

    This program aimed to combat corruption, fortify the government’s financial management capabilities, and empower independent oversight institutions and enforcement mechanisms.

    Following the successful implementation of the Threshold Programme, Malawi earned the privilege of its first MCC compact, a substantial US$350.7 million allocation.

    However, it is the second MCC compact that currently steals the spotlight. Dedicated to the construction of four critical corridor roads under the Increased Land Productivity Project, this compact holds the promise of advancing several Sustainable Development Goals, including the creation of an environment conducive to job and wealth creation.

    The President also celebrated the transformative investments made by the MCC in Malawi, particularly in the energy sector. “Today, Malawi stands as a testament to the fruits of this transformative project, boasting state-of-the-art electricity generation, transmission, and distribution infrastructure that spans our entire nation,” he stated.

    Among the distinguished attendees at this anniversary event were Alice Albright, MCC Chief Executive Officer; José Ramos-Horta, President of Timor-Leste; and Amina Mohammed, the United Nations Deputy Secretary-General, among other luminaries.

    The MCC Compact, a beacon of hope for Malawi’s future, promises not only increased land productivity but also the creation of opportunities for meaningful employment, offering a path towards sustainable development and prosperity for Malawi.

     

    Latest Posts

    LATEST TWEETS

    You cannot copy content of this page