Financially beleaguered Malawi is to receive $137m (£109.4m) of budget support from the World Bank – a month after the country’s currency lost nearly half its value against the US dollar.
Malawi, one of the poorest countries in the world, is battling chronic foreign-currency shortages that have led to shortages of fuel, medicines and fertilisers.
On Wednesday the World Bank announced fresh funding, of which $80m (£63.9m) will be paid out immediately.
The International Monetary Fund has said the southern African country needs almost $1bn (£798.4m) in debt relief by 2027.
Source:Fiilafmonline/BBC
