India Pumps in $ 23.3 Million For Blantyre Water Project At A Colourful Event In New Delhi
His Excellency, Dr. Mbuya Isaac Munlo, Malawi High Commissioner to India, on behalf of the Minister of Finance, Economic Planning and Development today 5th August, 2016 signed the USD23.5 Million Line of Credit (LoC) for the Blantyre Water Project in Malawi. The High Commissioner signed the LoC with the Chairman and Managing Director of Exim Bank; India, Mr. Yaduvendra Mathur, in New Delhi. The LoC will be used for the construction of the new water supply project from the Likhubula River in Mulanje to Blantyre.
Speaking after the signing ceremony, H.E. Dr. Mbuya Isaac Munlo said, the signing of the LoC could not have come at a better time, particularly, considering the many challenges Blantyre as a growing city is facing in the wake of providing portable water to the city. He further said that when fully implemented, the project will address the water shortages occurring not only in Blantyre but also in the surrounding areas of the city.
On his part, Mr. Yaduvendra Mathur, Chairman and Managing Director Exim Bank of India, commended Malawi for coming up with this very important project. He pledged the banks total support towards the implementation of the project and further said that the bank will ensure timely disbursement of the LoC to Malawi.
Malawi has previously accessed LoCs from Exim Bank of India and utilised these for various projects including the construction of the fuel storage facilities in the three regions of Malawi, the Greenbelt, and construction of the sugar factory in Salima.