An arm of the World Bank Group called the International Development Association (IDA), has signed two financing agreements worth K127 billion towards the Malawi’s power sector.

Minister of Finance, Economic Planning and Development and Development Joseph Mwanamvekha and World Bank country director for Tanzania, Malawi, Burundi and Somalia Bella Bird signed the two agreements on behalf of Malawi and World Bank, respectively.

On the other hand, earlier this year as the Africa-India Trade Conclave is happening in New Delhi, several Indian Companies expressed their interests to invest in the sector to help the country achieve sustainable and reliable energy. The Minister of Industry, Trade and Tourism Francis Kaisala expressed his excitement towards the investors’ sentiments. He revealed that the investors are also interested in the agri-processing and ICT sectors.