Malawi is among four Least Development Countries selected to benefit from a US$35 Million (MK27.I Billion)funding under the Sustainable Development Fund (Joint SDG Fund).
According to Minister of Industry Roy Kachale Banda, the fund which will be provided through UN Malawi under Build Malawi Window seeks to end poverty and hunger by increasing investment in Agriculture and other manufacturing and service supply chains, as well as increasing productivity within these supply chains through technology and innovation.
According to Kachale, through the facility, small-scale producers will be accessing long term debt which will boost their businesses and create jobs.
On Tuesday 21st September 2021 Minister Kachale led a Malawi delegation that participated in a United Nations General Assembly side event on Sustainable Development Finance in Least Development Countries with a focus on Malawi held virtually.
According to UN Malawi Resident Coordinator Ms. Maria Jose Torres, the side event’s objective was to showcase how the UN Development System is innovating through collaboration to create joint programs and innitiatives, including Partnerships with private sector to achieve greater leverage for financing the SDGs specifically the Least Development Countries.
The side event was also attended by UNDP Under Secretary- General Ms. Usha Rao Monari, UNCDF Executive Secretary Preeti Sinha and Malawi Minister of Trade Sosten Gwengwe.