EIB funds drinking water project in Malawi

The European Investment Bank is approving a $35.7 million loan to extend the drinking water network in southern Malawi. The project is being implemented by the state-owned Southern Region Water Board. The soft loan is to be repaid over 20 years with a grace period of five years. 

The financing will fund the extension of the drinking water network in the southern region of Malawi, particularly in Balaka and Liwonde. SRWB says part of the funding will be used for the development of a power plant to diversify its operations. Work on the project will start as early as March 2022 in the southern region of Malawi and will be completed by August 2023.