Malawi signs EU new Budget Support, AFDB agreements

Government of Malawi has signed a 55 million Euros new budget support with European Union (EU) and 46 million dollars agreements with African Development Bank.

Speaking during the signing ceremony EU ambassador, Rune Skinnebach said the Budget programme will target education sector and Public Finance Management PFM.

Skinnebach called on government to improve PFM and meet a series of indicators including Integrated Financial Information Management Systems (IFIMS) but also in education where current expenditure levels must be increased.

Minister of Finance and Economic Affairs, Simplex Chithyola said their ministry will ensure the use of the resources for intended purposes and appealed to implementers to practice financial prudence

African Development Bank Country Manager McMillan Anyanwu said the Agriculture Based Budgetary Support will ensure food security in the face of climate and economic shocks