President Lazarus Chakwera and US Secretary of State Anthony Blinken presided over the signing ceremony of the second Millennium Challenge Compact (MCC) amounting to US$ 350 million (K362 billion) in Washington DC on Wednesday.

Speaking at the function, Chief Executive Officer for MCC Alice Albright said she was impressed with Chakwera’s administration’s commitment to build Malawi and reduce poverty.

“The government of Malawi partnered with MCC and Malawi was eligible to secure US$ 350 million compact which was designed to overhaul the power sector to transform the energy sector, provide clean water, improve sanitation, boost agriculture yields, construct transportation infrastructure among others,” she explained.

She added, “I am impressed with President Chakwera’s commitment to build Malawi and his vision to reduce poverty levels among others hence the signing of the Compact marks a great milestone as it will assist in the construction of sub stations to increase electricity transmission road network among others.”

The CEO added that the MCC would benefit over 13 million Malawians and boost Malawi’s economy.

President Dr. Lazarus Chakwera described the Compact as a positive impact on Malawi’s economy. He said part of the compact will construct over 300kms of roads that includes Mkanda- Mchinji to Mwase, Rumphi to Euthini in Mzimba, Lilongwe to Chigwirizano and a road from Chantulo in Mangochi off Golomoti to Monkeybay among others.

“Malawi is transforming and is no longer going to be the same after making tough and painful corrective economic decisions that will yield dividends for the country,” he said.

Chakwera thanked the US government for showing commitment which would go a long way to achieve the vision for Malawi as a country.

US Secretary of State, Anthony Blinken pledged more support towards Malawi’s developmental goals and that includes the Extended Credit Facility with the International Monetary Fund (IMF).

He assured the President of America’s support in Malawi’s quest to implement Malawi 2063 towards food security, self-reliance, industrialization and job creation among others.

During the ceremony, the MCC cooperation was represented by MCC CEO, Alice Albright and Malawi Government was represented by Sosten Gwengwe, Minister of Finance and Economic Affairs, Secretary to the treasury and Minister of Foreign Affairs Nancy Tembo among others.

Reported by Lisa Kadango Malango in Washington DC – Mana