USA's MCC Chief Executive visits Malawi, to meet Joyce Banda
THE United States government's Millennium Challenge Corporation (MCC) Chief Executive Officer Daniel Yohannes arrived in Malawi on Tuesday, July 11, for a three day visit on the corporation's US$350.7 million energy support project in the country.
Yohannes's visit follows a decision by the MCC board last month to revive support to Malawi following suspension of the project last year over governance and human rights concerns in the country.
US Embassy in Malawi's Political Officer, Stephanie Reed confirmed Yohannes' visit, saying will meet government officials and other stakeholders in the power sector to discuss the project implementation before commencement following the recent reinstatement.
"The project is designed to increase the capacity and stability of the national electricity grid and bolster the efficiency and sustainability of hydropower generation," said Reed.
She said activities under the project will include support towards an enabling environment for future expansion by strengthening sector institutions and enhancing sector regulation and governance.
MCC estimates that Malawi will realise about US$2 billion in benefits from the investment over a period of 25 years with five million Malawians expected to benefit from the project's investments. The project was suspended last year by the MCC board following political and economic governance concerns by the Democratic Progressive Party (DPP) regime.