Malawi’s housing project is looking up. Approximately 800, 000 households are to benefit from the second supplementary financing in the Strengthening Safety Nets Systems Project-MASAF IV.
The development was launched in Lilongwe on Monday where Minister of Finance, Economic Planning and Development, Goodal Gondwe, signed the financing contract of US$70 million (around K51 billion) which is supported by the International Development Association of the World Bank (IDA).
In his statement after the official signing of the agreement, Gondwe clarified that part of the financial support is intended to scale up the Public Works Programme to achieve an additional 225 thousand house units through an emergency component.
Gondwe said; “It will in addition aid in scaling up the Social Cash Transfer Programme to 9 districts getting more than 120,000 households.
The Strengthening Safety Nets Systems Project is among the World Bank’s priority policies intended to assist Malawi to recuperate from exterior shocks effects by the unfavourable effects of the drought and floods that hit the nation in the 2014-2015 growing season.
