By Faridat Salifu
Despite recent periods of limited financial support due to political reasons, Malawi has received a substantial boost from the World Bank with a package worth $420 million. This funding is aimed at aiding the East African country in recovering from a series of natural disasters.
In light of the 19 significant floods and eight extended droughts that have afflicted Malawi since 1970, the World Bank has taken a proactive step by providing a financial response focused on economic and climate resilience.
With thus, the International Development Association (IDA), approved a grant of $420million to enable the Malawian ravaged government rebuild infrastructure and restore the natural environment from these climate-related hazards.
The initiative’s primary objective is to shield thousands of people from the impacts of water-related climate shocks by focusing on the development of sturdier infrastructure, improved disaster risk management, and enhanced social protection systems.
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Hugh Riddell, the Country Director for the World Bank, emphasized that the resilience approach also aims to ensure a rapid and sustainable recovery from such weather-related events.
The $420 million grant will be utilized to implement the Regional Climate Resilience Programme for Eastern and Southern Africa (RCRP), which includes the sustainable management of the Shire River basin. This river basin is a crucial water source for Malawi and neighboring states.
Additionally, part of the support from the World Bank will be directed towards establishing early warning systems and fostering information-sharing between Malawi, Mozambique, the Comoros, and Madagascar.
These four East African countries have sought to address the aftermath of Cyclone Freddy, which devastated infrastructures and livelihoods across its path between 2022 and 2023, as well as Tropical Storm Gombe, which led to significant animal displacement within Liwonde National Park.
The support provided by the World Bank is complemented by the African Development Bank (AfDB), which has also established a $100 million Emergency Recovery Fund for the entire sub-region.
This significant financial support from both institutions underscores the commitment to strengthening climate resilience and promoting sustainable recovery in the face of recurrent natural disasters.
