As the 2025 presidential race is heating up, influential donors such as European Union ( EU) have stepped to the plate by pumping and pledging substantial financial and technical support to President Dr Lazarus Chakwera and his MCP government, signalling confidence in his leadership.
Securing a major direct budgetary support after 10years drought is a major boost for Malawi’s economic growth and aspirations, governance analysts have said.
“The signing of 55 million Euros which translates to K107 billion of which 50 Euros will go direct to budget marks milestone regarding economic development of the country. This agreement represents a renewed commitment to shared vision of sustainable development and prosperity. We are very much sincere to the EU for trust Chakwera’s leadership with this staggering amount of money.
“This financial facility is poised to catalyze transformative projects across multiple sectors, propelling the country’s development ambitions to new heights. With this money, will embark on transformative projects to redefine our nation’s infrastructure landscape, education, health delivery services among others,,” said the Simplex Chithyola Banda Minister of Finance after signing the agreement.
He has further said government top priorities are expand access to quality education, digital literacy programs as education plays a pivotal role in driving societal advancement, that the funds will help the economy to rebound and drive growth while tanking inflation, enhancing health sector describing it as bedrock of development among others.
In his remarks, EU Ambassador, Rune Skinnebach described the budget support as sign of confidence in Chakwera and his government.
Commenting on the same. MCP’s legal advisor, George Jivason Kadzipatike and governance expert Undule Mwakasungula have both hailed the resumption of the support describing it as “turning point” under Chakwera’s leadership.
Malawi has been grappling with inflation and lack of forex and the money is expected to stabilize the market forces.
