By Staff Reporter
Malawi Leader President Dr Lazarus Chakwera has held multilateral talks with OPEC Fund for International Development,
Director General Abdulhamid Alkhalifa as a side meeting to the on going Doha Qata Meeting
President Chakwera held talks with Abdulhamid Alkhalifa, Director General of the OPEC Fund for International Development at the Ritz Carlton Hotel in Doha.
While commending OPEC for implementing reforms that have allowed Malawi to benefit from grants rather than loans, His Excellency has called on OPEC for further collaboration and to consider expanding the current OPEC financial portfolio for Malawi from USD 60 million to USD 200 million over 3 years, in order to allow the fund to be functional, in the absence of co-financiers therefore increasing Malawi’s potential to graduate to a middle income country.
Among other issues his excellency highlighted the benefits that have been reaped with the assistance of the OPEC Fund including the construction of Rumphi, Mchinji and Chikwawa Teachers Training Colleges; the construction of the Karonga Town Water Supply Scheme and the implementation of the Transforming Agriculture through Diversification and Entrepreneurship (TRADE) Programme among many others.
The OPEC Fund for International Development is a multilateral development finance institution which was established in 1976 by the Organization of the Petroleum Exporting Countries OPEC.
*Writing on his Facebook Page , President Chakwera described the descussion as fruitful.*
“I took time to commend OPEC for implementing reforms that have allowed Malawi to benefit from grants rather than loans.
I also expressed gratitude to commend OPEC Fund for a number of infrastructure projects and programmes they have facilitated in Malawi over the years.”
Chakwera says ; These include construction of Rumphi, Mchinji and Chikwawa Teachers Training Colleges; construction of the Karonga Town Water Supply Scheme and the implementation of the Transforming Agriculture through Diversification and Entrepreneurship (TRADE) Programme among many others.
He said he has further sought more collaboration from the Fund by among things consideration to expand the current OPEC financial portfolio for Malawi from US$60million to US$200 million over 3 years in order to allow the fund to be functional.
“All these current and expected interventions from the Fund have the capability to spur economic growth and sustain our aspirations of becoming a middle income economy,” said the Malawi Leader.
