Malawi: AfDB Withdraws K52.7 Billion As Malawi Faces Mounting Donor Compliance Concerns

Malawi: AfDB Withdraws K52.7 Billion As Malawi Faces Mounting Donor Compliance Concerns

Malawi has lost approximately K52.705 billion in African Development Bank (AfDB) funding after the institution revised downwards its African Development Fund (ADF-16) allocation for the 2023-2025 cycle from K174.6 billion to K121.895 billion, citing weak compliance with procurement rules, financial management gaps and deteriorating governance indicators.

AfDB Withdraws K52.7 Billion as Malawi Faces Mounting Donor Compliance Concerns - Malawi Nyasa Times - News from Malawi about Malawi

Malawi has lost approximately K52.705 billion in African Development Bank (AfDB) funding after the institution revised downwards its African Development Fund (ADF-16) allocation for the 2023–2025 cycle from K174.6 billion to K121.895 billion, citing weak compliance with procurement rules, financial management gaps and deteriorating governance indicators. The AfDB says the revision follows weaker Country Policy […] The post AfDB Withdraws K52.7 B…

‘Failure’ locks donor funds

Malawi is paying a heavy price for failure to adhere to procurement and financial management procedures in donor-funded projects prompting some donors to either revise downwards, demand refunds or withhold their funding. In the latest case the African Development Bank (AfDB) withdrew about K52.705 billion funding after revising the African Development Fund (ADF) 16 cycle for the period 2023 to 2025) that initially had a Performance-Based Allocat…