Malawi is to receive development credits worth 250,000 pounds sterling under an agreement signed in Bonn today (Wednesday).
Malawi is to receive development credits worth 250,000 pounds sterling under an agreement signed in Bonn today (Wednesday). The credit arrangement was signed for West Germany by State Secretary Herr Sigismund Von Braun and by the Malawian finance Minister, Mr. Aleke Banda.
In a ceremony at the West German Foreign office, the two men finalised the grant which will be used for road construction in Malawi and for resiting the market in the Malawi capital of Blantyre.
The latest grant for the road connecting Karonga, Chilumba and Chiweta amounts to about 91,000 pounds sterling and brings the total West German contribution to the road project to two million pounds sterling. The road construction is expected to be completed within a few months.
About 150,000 pounds sterling has been allocated to the construction of the new trading market.
After the brief ceremony, Mr. Banda, who is in Bonn to discuss development plans with West German leaders, was expected to visit Frankfurt.