Malawi hopeful on NDB
THE President of Malawi Peter Muthrika was unequivocal in his support for BRICS at the Summit’s Outreach with African leaders on Friday.
“Malawi has a 22-year infrastructure master plan – we need roads, railways and airports, and the creation of the New Development Bank (NDB) will make it easier for us to access funds in the future for infrastructure development,” Muthrika told Independent Media.
“South Africa has done well to bring African countries on board with regards to BRICS, Africa has a voice and South Africa must speak for us,” Muthrika said.
“If Malawi can leverage financing from the NDB to process our own tobacco, we could set higher prices and export a value added product within three to five years,” Muthrika insists.
“Our biggest challenge is to turn our country around from being a consuming to a producing economy, so that we have value-added products to export.”
A similar refrain could be heard from many of the African leaders who attended the BRICS Plus Outreach with African leaders on Friday.
For them the NDB presents an opportunity in the future to leverage loans from an institution that stands as an alternative to the Western dominated international financial institutions.
With CNN declaring Malawi as one of the top 15 tourist destinations in the world, Malawi desperately needs development financing to improve its infrastructure for tourism purposes.