Malawi’s government and the United States African Development Foundation (USADF) have inked a five-year Memorandum of Understanding (MOU), committing each to allocate up to $750,000 annually for Agriculture Development, Agribusiness, and Small and Medium-Sized Enterprises promotion in Malawi. The signing event transpired at Lilongwe’s Bingu International Convention Center on a Wednesday.
During the ceremony, Minister of Finance and Economic Affairs Simplex Chithyola Banda expressed gratitude to the U.S. government for their ongoing support, emphasizing the project’s impact on job creation and elevating living standards for marginalized communities.
Chithyola Banda outlined the project’s goal of enhancing living standards through grants, fostering tangible benefits like increased job opportunities, higher income levels, and addressing social development needs.
USADF, operational in Malawi since 2008, initially had a five-year agreement, extended to 2018, and further extended to 2023 in April 2018. The newly signed MOU solidifies the partnership, aiming to continue development efforts until 2028.
USADF President Travis Adkins pledged sustained support for small and medium enterprises, urging beneficiaries to maximize the resources provided. The agreement spans from 2024 to 2028, with a cumulative contribution of $7.5 million (equivalent to K12.75 billion) anticipated over its duration.