An $8million (about K6.2 billion) business financing program will be available in the country, courtesy of the partnership between United Nations (UN) Joint Sustainable Development Goals (SDG).

The program targets to invest in 75,000 small-scale producers in Malawi to increase their incomes and, in turn, expand the country’s revenue base. Three UN agencies, namely UNDP, Fao and UNCDF are jointly working with the government in implementing the program, aiming to leverage an estimated $28 million in co-financing and $20 million in private investment.

UN Resident Coordinator Maria Jose Torres outlined that the idea of the program is to de-risk investments, facilitate access to finance for businesses as well as increase productivity by focusing on guaranteeing capital access for the most impactful investments in the production chain. “We will also provide technical assistance to accelerate growth and reduce associated risks and costs to businesses. With this programme, we are opening opportunities for job-creation for youths and women and boosting Malawi’s growth,” Torres said.