The Board of Executive Directors of the International Development Association (IDA), a subsidiary of the World Bank, has approved on an absence-of objection basis a grant in the amount of US$80 million to the Republic of Malawi for the Fiscal Governance Program for Results.
The Board of Executive Directors of the International Development Association , a subsidiary of the World Bank, has approved on an absence-of objection basis a grant in the amount of US$80 million to the Republic of Malawi for the Fiscal Governance Program for Results.
Ngaruko stated that the objective of the operation is to improve the effectiveness of resource mobilization, budget execution, and transparency of public finances in Malawi. The grant will further help in enhancing resource transparency and accountability across the Government of Malawi with a focus on State Owned Enterprises, beneficial ownership transparency, and increased responsiveness to the audit process, according to the communication.
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