President Arthur Peter Mutharika has commended World Bank for its continued support towards Malawi’s economic growth for the past 50 years.
President Mutharika said this at Sanjika Palace in Blantyre on Wednesday during an audience with high-level World Bank delegation.
The president said the support that World Bank has been rendering in Malawi is a commitment that the World Bank is geared to see Malawi out of poverty in all important areas that accelerate economic growth.
“Malawi is making strides despite facing some serious challenges since 2014 when the country was hit by floods. As you have already heard in the meantime people who are protesting against 2019 elections results are also destroying properties.
Surprise to say the elections were deemed by many to be free and fair. “The demonstrations are slowing the country’s economy. This is two steps forward and three steps backward. All in all I believe in rule of law and peace because my interest is to transform Malawi’s economy,” said Mutharika.
The president said the meeting with World Bank came at a time when his administration is renewing some economic activities focusing on economic growth that can take Malawi to another level.
He added,” When I say economic growth am serious. My country has achieved macro-economic growth even without donor support for the past five years. I attribute this success to reforms in public finance sector. I would like to take Malawi from poverty to prosperity whatever the case in particular to create more jobs for youth and women.
Mutharika then told the World Bank delegation that Malawi has intensified activities that are contained in the Malawi Growth and Development Strategy (MDGS) and that his administration has outlined some priorities out of that.
“There are five areas am prioritizing namely agriculture and agro-processing, education and skills development, energy mining and tourism, transport as well as health and population. Malawi is also serious about job creation for the youth. To achieve all these I appeal World Bank to be united and support us in these areas,” said Mutharika.
Taking his turn, World Bank Country Director for Malawi Bella Bird said though World Bank has managed to help Malawi for the past 50 years, there are still more areas that the bank is interested to help Malawi.
Bird said the aim of meeting with president Mutharika was to hear the priorities that Malawi is interested to be helped with World Bank in a move to accelerate economic growth.
“First of all let me congratulate Malawi for holding peaceful elections and achieving macro-economic growth for the past few years.
I can attribute the macro-economic stability that Malawi has attained for two reasons. Firstly is the bringing down of interest rate and secondly the promotion of financial discipline that Malawi undertook,” said Bird.
Bird who is also World Bank Country Director for other countries like Zambia, Zimbabwe and Tanzania emphasized that her Bank is serious
about eradicating poverty in Malawi through different dimensions.
She added,” World Bank has the interest to double Malawi’s energy sector to unlock other opportunities like job creation and business opportunities since energy drives the future for every economy. We are also looking at helping Malawi in other areas like water resource management and human capital development.
“Let me assure the president that World Bank partnership with Malawi will continue mainly in uplifting the country’s economic growth. I am happy that the country has made some strides in other areas like education, agriculture among other important sectors.