Parliament approves K63 billion loan for Lakeshore Road financing

Malawi: Malawi's Parliament approved the African Development Fund (SADC Sub-Regional Transport and Trade Facilitation Project) Loan (Authorization) Bill on Thursday, with a grant of K63 billion.

This is the financing that completes the 135-kilometre M5 Lakeshore Road financing.

Sosten Gwengwe, Minister of Finance and Economic Affairs stated that once the financing is in place, the Minister of Transport will immediately begin the procurement process so that the project can begin as soon as possible.

Kondwani Nankhumwa, Leader of the Opposition in Parliament, stated that it is very good news and very important in terms of road infrastructure because it remains a key to any country's development.

Nankhumwa pleaded with the government to put the money to good use.