National Bank funds road rehabilitation works

By Mirriam Thando Mulagha: National Bank of Malawi (NBM) has committed K100 billion towards the rehabilitation of the Golomoti-Monkey Bay Turn-off Road under what the authorities describe as a new partnership model for infrastructure development. Speaking during the groundbreaking ceremony in Dedza District, Transport and Public Works Minister Jappie Mhango said the agreement followed engagements between the government and the bank. "For a country to develop, you need a robust road network and that requires huge resources. The financing arrangement we have now developed in the ministry is what is going to help us," he said. The latest initiative comes barely a week after Mhango told Parliament that the government had engaged 81 contractors to rehabilitate roads and bridges that were damaged by floods and other extreme weather events across the country, with works expected to be completed by the end of October. He also appealed to communities along the project corridor to protect construction materials and equipment from theft, saying vandalism and fuel theft only inflate project costs and delay completion. NBM Board Chairperson Grant Kabango said supporting strategic infrastructure projects reflected the bank's commitment to Malawi's socio-economic development. He said they were a bank that had Malawians' best interests at heart. Kabango said NBM had contributed immensely to the country's development agenda, such that it felt dutybound to contribute towards the rehabilitation of the road as one way of easing mobility in the country. And, in a post made on Facebook, NBM said "Through our K100 billion financing facility to the Government of Malawi, this transformative project will enhance regional connectivity, improve transport efficiency, and unlock socio-economic opportunities for communities and businesses". On his part, Roads Authority Director Newton Kambala said rehabilitating the Golomoti- Monkey Bay corridor would improve connectivity, reduce transport costs and cases of road crashes and stimulate tourism, trade and agricultural productivity.

WIRE — By Mirriam Thando Mulagha: National Bank of Malawi (NBM) has committed K100 billion towards the rehabilitation of the Golomoti-Monkey Bay Turn-off Road under what the authorities describe as a new partnership model for infrastructure development. Speaking during the groundbreaking ceremony in Dedza District, Transport and Public Works Minister Jappie Mhango said the agreement followed engagements between the government and the bank. "For a country to develop, you need a robust road network and that requires huge resources. The financing arrangement we have now developed in the ministry is what is going to help us," he said. The latest initiative comes barely a week after Mhango told Parliament that the government had engaged 81 contractors to rehabilitate roads and bridges that were damaged by floods and other extreme weather events across the country, with works expected to be completed by the end of October. He also appealed to communities along the project corridor to protect construction materials and equipment from theft, saying vandalism and fuel theft only inflate project costs and delay completion. NBM Board Chairperson Grant Kabango said supporting strategic infrastructure projects reflected the bank's commitment to Malawi's socio-economic development. He said they were a bank that had Malawians' best interests at heart. Kabango said NBM had contributed immensely to the country's development agenda, such that it felt dutybound to contribute towards the rehabilitation of the road as one way of easing mobility in the country. And, in a post made on Facebook, NBM said "Through our K100 billion financing facility to the Government of Malawi, this transformative project will enhance regional connectivity, improve transport efficiency, and unlock socio-economic opportunities for communities and businesses". On his part, Roads Authority Director Newton Kambala said rehabilitating the Golomoti- Monkey Bay corridor would improve connectivity, reduce transport costs and cases of road crashes and stimulate tourism, trade and agricultural productivity.

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