Malawi to Benefit from MCC Second Compact
Hopes are high that Malawi Government will in September this year sign the second compact of the Millennium Challenge Corporation (MCC).
MCC Board of Directors in December last year reselected Malawi for the compact which will work in three main areas of agriculture, transport and land.
The MCC Board of Directors selects countries as eligible for the assistance that demonstrate a commitment to just and democratic governance, investing in people, and economic freedom.
Treasury spokesperson, Williams Banda, says the executed compact will come into force after fulfilment of any condition precedents, among others.
“The executed compact will come into force after standing up the MCA Malawi II and fulfilment of any condition precedents.
“The Detailed Feasibility Studies (DFS) that are currently underway will lead not only to identifying the various interventions and activities but also the financial and other resources required to implement them. It is estimated that this will be finalized in time for formal negotiations in the summer,” says Banda.
National Planning Commission Spokesperson, Thom Khanje, says the compact complements the Malawi 2063 Vision.
“Land is critical in the implementation of Malawi 2063 Vision. Without land, we cannot have mega farms for agriculture. Transport supports the enabler on infrastructure for the Malawi 2063 Vision. Agriculture is pillar number for Malawi 2063 Vision,” says Khanje.
Malawi was first selected to develop a second compact on 11th December, 2018.
Since then, MCC and the Government of Malawi, through the Malawi Millennium Development Trust, have been working on establishing the areas and the interventions that will comprise this second compact.
“Sadly, the Covid 19 Pandemic has slowed down progress as it has impeded officials from MCC and consultants from travelling to Malawi as required,” says Banda.