By Wadza Botomani
Parliament has approved Bill No. 31 of 2024, authorising the government to borrow EUR 90 million from the European Investment Bank to finance the Water-Energy Framework Project.
This significant loan will be allocated among four water boards to improve access to water in low-income areas, enhance operational efficiency, reduce greenhouse gas emissions, and increase resilience to drought and water supply challenges.
Presenting the Bill, Minister of Finance and Economic Affairs, Honourable Simplex Chithyola Banda, emphasized the project’s objectives, which include planting energy-efficient water pumps, expanding water storage capacity, and improving operational efficiency.
The loan will be repaid over five years, with the European Investment Bank providing the necessary funding.
The EUR 90 million loan will be distributed among the four water boards as follows: Lilongwe Water Board will receive EUR 20 million, Northern Region Water Board will receive EUR 47 million, Central Region Water Board will receive EUR 33 million, and Southern Region Water Board will also receive EUR 20 million.
This development comes as part of the European Union’s efforts to support sustainable development and climate action in Malawi.
