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The MOU signing of the 2nd Millennium Challenge Compact for Malawi worth US$350 million

His Excellency Dr Lazarus McCarthy Chakwera, President of the Republic of Malawi, held bilateral talks with US Secretary of State Antony Blinken at the State Department ahead of the signing of the $US350 million Millennium Challenge Compact.

President Chakwera and Secretary Blinken discussed a number of areas of mutual cooperation between Malawi and the United States, including infrastructural development, promotion of democracy, governance reform, and economic recovery.

Secretary Blinken commended President Chakwera for his leadership as demonstrated through his courage to make difficult and painful corrective economic decisions that will yield dividends for the country in the long term, as well as for his defence of freedom and democracy on the international stage. He therefore assured the President of America's support in Malawi’s quest to implement the developmental pillars of Malawi 2063 towards the achievement of job creation, wealth creation, and food security.

After the bilateral talks, President Chakwera and Secretary Blinken presided over the signing ceremony of the 2nd MCC Compact, with the MCC represented by Ms. Alice Albright and the Malawi Government represented by Hon. Sosten Gwengwe, MP, Minister of Finance and Economic Affairs. In his remarks prior to the signing, His Excellency described the positive impact on the economy the Compact will have through the construction of over 300kms of road, including the following:

1. From Chikwawa in Rumphi to Euthini in Mzimba - 67kms;

2. From Mkanda in Mchinji to Mwase/Linga in Kasungu - 88kms;

3. From Chileka in Lilongwe to Chigwirizano in Lilongwe - 53kms; and

4. From Chamtulo in Mangochi (off Golomoti to Monkey Bay road) to Mkutumula near Balaka Market in Ntcheu - 79kms.

For his part, Secretary Blinken pledged even more US support for Malawi's developmental goals, including the country's quest for an Extended Credit Facility with the International Monetary Fund, where President Chakwera will meet Managing Director Kristalina Georgieva shortly.