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ADB Impressed with Malawi’s economic growth

  1. Posted on Friday 5 March 2010 - 13:04
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    The African Development Bank (ADB) says it is impressed with Malawi’s economic performance and has since pledged to support the country in its development agenda.
    Peter Sinon head of an ADB delegation that is visiting Malawi said in Blantyre Malawi’s economy is a rapidly glowing coming second from Qatar.
    He said following the good economic performance the bank will allocate more support to the country in the next eleven months.
    “We had discussions with the state president this morning and following the discussions we are impressed by Malawi’s economic performance and we hope that this will spread to other African countries during the Period Dr Mutharika is AU chairman” he said.
    He said the bank was now focusing on food security projects following the shinning example Malawi has demonstrated from being a dependent country to be come a food sufficient nation.
    “The Malawi fertriser subsidy programme was a smart approach in uplifting the livelihood of the poor and vulnerable we will try to assist that food security becomes the issue of the whole African continent,” said Sinon.
    Sinon said that the ADB was currently negotiating with the G20 on how carbon trading funds can be allocated to the African continent.
    “We know that climate change is one of the major developmental issues for the rest of Africa and we are encouraging the use of sustainable technologies that are environmentally friendly,” he said.
    Frank Kufakwandi ADB resident representative to Malawi said the bank was encouraging the use of solar energy to drive irrigation pumps.
    “We are encouraging farmers to use solar energy to run irrigation pumps,” he said.
    Malawian minister of finance Ken Kandodo said the AU chair Dr Mutharika had prioritized agriculture and transport development as the chore areas during his AU chairmanship.

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