AfDB Group’s Malawi Field Office Opens for Business

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Lilongwe, 20 June 2007 – The African Development Bank Group’s Malawi Field Office (MWFO) is open for business following the presentation of letters of accreditation by the Resident Representative, Mr. Frank Kufakwandi, to the country’s foreign affairs minister, Hon Joyce Banda, on Tuesday in Lilongwe.

Mr. Kufakwandi informed the minister about the Bank’s appreciation of the country’s achievement in macroeconomic stability, its growth rate of 8% in 2006, and its improved performance in the agriculture sector which recorded a bumper harvest during the 2006 season.

He emphasized the Bank’s commitment to continue working with other donors in support of Malawi’s Growth and Development Strategy in the domains of sustainable economic growth, social protection, social development, infrastructure, and good governance. He emphasized the need to work towards making Malawi competitive both in the SADC regional and global markets.

Hon. Banda, for her part, expressed the government’s appreciation of the Bank’s decision to open the Malawi office as a means of deepening dialogue with the government. Mr. Kufakwandi had earlier paid a courtesy call on the finance minister, Hon. Goodall Gondwe.

The 25 field offices established by the Bank Group are expected to strengthen in-country activity and knowledge, conduct policy and strategy dialogue with countries, participate in donor consultations, and constitute a focal point for key project implementation.

The Bank Group’s operations in Malawi commenced in 1972. To date, its cumulative commitments in the country stand at 522.8 million Units of Account* (US$ 790.92 million), in 72 operations.

* 1 UA = 1.51286 as at 21/06/2007

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