The World Bank has approved $137 million of budget support for Malawi, with an immediate disbursement of $80 million, the bank said in a statement.
The funding will help the southern African country enhance fiscal sustainability, stimulate private sector-led growth, and increase resilience to shocks, the World Bank said.
After the initial $80 million, the remaining $57 million can be triggered in the event of a crisis, it added.
The support comes as Malawi battles chronic foreign-currency shortages that have led to a lack of fuel, medicines and fertilisers.
Source: CNBC
