- OFID signs loan agreements with Malawi to strengthen health and agriculture sectors
OFID signs loan agreements with Malawi to strengthen health and agriculture sectors
December 10, 2012
The OPEC Fund for International Development (OFID) has signed two loan agreements with Malawi to help strengthen the country's health and agriculture sectors. The agreements were signed by OFID Director-General, Mr. Suleiman J. Al-Herbish, and HE Isaac Lamba, Ambassador of the Republic of Malawi to Germany.
A US$8 million loan will co-finance the completion of the ongoing Nkhata Bay District Hospital project that will construct over 16,000 m2 of additional buildings for hospital and staff housing. The hospital will have a capacity of 300 beds and 60 staff houses, in addition to facilities for accommodating students and parents of young patients. On completion, the hospital will serve over 400,000 people. OFID also helped fund the first phase of the project.
Also signed was an agreement for a US$10 million loan to co-fund a rural livelihood and economic enhancement program that will strengthen and improve farmers’ linkages to value chains and establishing more efficient production, transport, storage, processing and marketing systems, and in turn raise incomes and living standards.
OFID's partnership with Malawi dates back to 1977. Since then, loans have been extended to help boost the education, health, water supply & sanitation and transportation sectors. The country has also been a beneficiary of a number of grants, including the provision of food aid and support of HIV/AIDS programs; energy and agriculture initiatives and improving potable water supplies, among others.