By Leonard Masauli in Nairobi, Kenya

Nairobi, April 29, Mana: President Dr Lazarus Chakwera has appealed to the World Bank for assistance in the reconstruction and advancement of Malawi, emphasizing the importance of flexible International Development Association (IDA) facilities to foster the country's economic vitality and global competitiveness.

Chakwera made the remarks Monday during the IDA summit in Nairobi, Kenya.

He highlighted the significant challenges faced by African nations, including Malawi, due to natural disasters such as cyclones and disease outbreaks like Cholera, which have hampered development and economic progress.

"In our journey towards recovery, the support of the World Bank's IDA has been pivotal. It has served as Malawi's reliable emergency response mechanism addressing the structural imbalances in our economy resulting from the encountered shocks.

"While acknowledging IDA crucial role in emergency relief, our vision extends beyond short term interventions. We seek a partnership that enables sustained economic growth and resilience,” he said.

Chakwera praised World Bank's swift assistance in responding to Malawi's urgent needs, including food security and disaster management initiatives such as the Social Support for Resilient Livelihoods Project.

He cited recent examples of financial support provided by the Bank to address food shortages and repair infrastructure damaged by natural disasters.

"Our aspiration is to leverage IDA's resources and other tailored instruments to implement our national development agenda, particularly the ATM Strategy focusing on key sectors such as Agriculture, Tourism and Mining,” he said.

He said Malawi aims to transition to a prosperous middle-income economy within the next six years while emphasizing sustainable agricultural practices and infrastructural development.

The President expressed gratitude to the World Bank for reinstating General Budget Support to Malawi, acknowledging the institution's recognition of the country's reform efforts.

President of the World Bank Group, Ajay Banga, stressed the Bank’s commitment to work with African countries to ensure they realize their development agenda.

Kenyan President, William Ruto, underscored Africa's commitment to economic transformation and global leadership.

He emphasized the importance of financial cooperation through initiatives such as IDA in achieving developmental objectives.

"The presence of the continent's leaders at this summit reaffirms our collective dedication to leveraging international partnerships, such as the IDA, to drive sustainable development across Africa and beyond," said Ruto.