January 12

The World Bank Grants $420 Million to Strengthen Climate Resilience in Malawi

By Benoit-Ivan Wansi

Although Malawi has not received direct financial support from the World Bank for several years for political reasons, the group has announced a package worth $420 million. This should enable the East African country to rebuild after a series of natural disasters.

In response to the 19 major floods and eight prolonged droughts experienced by Malawi since 1970, the World Bank is providing a financial response focused on economic and climate resilience. The International Development Association (IDA) recently granted the Malawian government $420 million to rebuild infrastructure and rehabilitate the natural heritage decimated by these climatic hazards.

Photo courtesy of ICRISAT.

Source: Afrik21 (link opens in a new window)

Environment, Investing
climate change, climate finance