The World Bank has approved a $165.9 million grant financing package for Malawi aimed at strengthening resilience to climate and economic shocks while expanding pathways to higher-paying jobs.
The funding is provided under the new Integrated Social Protection for Resilience and Opportunity Project, known as INSPIRE-O. The initiative will also deploy additional drought-responsive financing mechanisms across Malawi’s 10 most drought-prone districts.
According to a statement from the bank, the project will benefit vulnerable households across all 25 districts and four cities by combining adaptive safety nets with climate-smart public works and economic inclusion programs, particularly for women and youth.
World Bank Country Manager for Malawi Abdu Muwonge said the investment signals a strong and enduring partnership at a critical time when job opportunities for young Malawians remain limited and climatic shocks persist ahead of the upcoming El Niño weather phenomenon.
–ChannelAfrica–
