Malawi, US sign K362 billion MCC compact

Malawi and United States of America have signed second Millennium challenge corporation MCC compact worth US$350 million (over K350 billion) under which 300kms of road will be constructed in Malawi

President Lazarus Chakwera and United States Secretary of State Antony Blinken presided over the signing of the compact.

MCC was represented by its chief executive officer Alice Albright while the Malawi Government was represented by Sosten Gwengwe, Minister of Finance and Economic Affairs.

In his remarks prior to the signing, Chakwera described the positive impact on the economy the compact will have through the construction of over 300kms of road.

Chakwera said Malawi Transport and Land Compact will be implemented to reduce transport costs and strengthen land administration in the country.

He added the compact will build Malawi’s capacity in land management reforms to maximize land revenue both for rural farmers and the country.

Speaking during the event, Secretary Blinken pledged more US support for Malawi’s developmental goals.

Roads that will be constructed under MCC compact include the road Chikwawa in Rumphi to Euthini in Mzimba – 67kms; from Mkanda in Mchinji to Mwase/Linga in Kasungu – 88kms; from Chileka in Lilongwe to Chigwirizano in Lilongwe – 53kms; and from Chamtulo in Mangochi (off Golomoti to Monkey Bay road) to Mkutumula near Balaka Market in Ntcheu – 79kms.