Malawi and South Africa Signs a MOU On Financial Assistance

Lilongwe ? Governments of Malawi and South Africa on Thursday July 13 signed a memorandum of understanding (MoU) on financial assistance to Malawi worth US$35 million.

The MoU was signed by Minister of Foreign affairs and internal Cooperation, Ephraim Chiume and his South African counterpart Maite Nkoana-Mashabane in Dar-es-Salaam, Tanzania on the sidelines of the SADC Ministerial Committee of the Organ (MCO) that was held to consider the political security situation in the SADC region, particularly in the Democratic republic (DRC), Madagascar and Zimbabwe.

According to a press statement from the Ministry of Foreign Affairs and International Cooperation out of the US$35million, US$10 million was already disbursed to Malawi sometime back and that the money is a grant to the Malawian Government which will be disbursed in tranches.

Source: http://allafrica.com/stories/201307170225.html

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