By Linda Kwanjana
World Bank has given Malawi $240Million (about K408 billion) grant for the strengthening of the country’s resilience to water-related climate impacts.
The money has been given through its development finance institution, the International Development Association (IDA).
A statement which the Bank has released indicates that the grant will prioritise the management of the Shire River basin, which is widely considered as important for Malawi and Mozambique.
The grant will be used to support the Regional Climate Resilience Program for Eastern and Southern Africa, a 10-year programme that seeks to protect people from exposure to water-related climate shocks by developing protective and resilient infrastructure, improved disaster risk management, and social protection systems.
The statement reads in part: “It [the grant] will also enhance coordination between Comoros, Madagascar, Malawi, and Mozambique in improving early warning systems and sharing information, as these countries are often affected by the same tropical cyclones.”
World Bank country director Hugh Riddell said the grant will help Malawi, which has experienced 19 major floods and eight catastrophic droughts in the last five decades, to move from a disaster response approach to preparedness.
He said: “The establishment of stronger structures supported by the recently approved Disaster Risk Management Act (2023) presents an opportunity to support the country’s shift from a disaster response approach to preparedness, risk reduction, and sustainable post disaster recovery.”
Recently, World Bank approved direct budgetary financing for the first time since 2017 for enhancement of fiscal sustainability and transparency, stimulate
private sector-led growth, and increase resilience to shocks.
In a statement which the Bank released, the Bank provided Malawi
with budget support that will help the country achieve economic growth.
