ADF supports Good Governance enhancement in Malawi
Enter your complete press release hereThe African Development Fund (ADF), the concessional window of the African Development Bank (ADB) Group will support the Good Governance programmes in Malawi.
The Acting Vice President for the North, South and East operations of the ADB Group, Mrs. Zeinab El Bakri, and the Malawi Ambassador to Egypt, Mr.Yahya M’Madi, signed today in Tunis a loan agreement for the Support to Good Governance Program. The Bank Group’s contribution for the financing of this project amounts to 12 million Units of Account (UA*), equivalent to US$ 18.38 million.
The project aims to improve financial management accountability and transparency as well as the access to justice.
During the signing ceremony the Malawi Ambassador declared: "The issue of Good Governance is one of the priority areas of the current administration in Malawi This assistance will go a long way in addressing all elements of governance namely: accountability, transparency, participation, rule of law, corruption, and legal issues".
The Acting VP, Mrs. El Bakri, recalling the Bank’s involvement in the country, underlined that: "While Bank’s portfolio in Malawi is satisfactory, improved efforts by Bank and Government will help deliver all projects’ aims."
The Bank Group operations in Malawi started in 1972. To date, the Group has committed a total of about UA 516.5million, equivalent to US $790.2 million for 73 operations.
* 1 UA = 1.53199 $ US as at 01/03/2005