ADF inks US$73.6m for Malawi road project [Agence de Presse Africaine]
(Agence de Presse Africaine Via Acquire Media NewsEdge) The Board of Directors of the African Development Fund (ADF), has approved a loan of US $73.6 million, for Malawi's multinational road project.
The ADF is a concessionary arm of the African Development Bank (AfDB) which will fund the Nacala Road Corridor Development Project Phase IV.
A statement on Thursday said the project will strengthen Malawian and Zambian transport infrastructure to promote inclusive growth and expand trade and regional integration.
The project is a continuation of the Nacala Road Development Corridor being supported by the AfDB in Mozambique, Malawi, and Zambia, respectively.
It said the Phase IV will involve rehabilitation of a 75-kilometre road between Liwonde and Mangochi and the establishment of One-Stop Border Posts at Chiponde and Mchinji at the Malawi-Mozambique and Malawi-Zambia borders, respectively.
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