Members of Parliament have passed five Bills allowing government to borrow money for various development activities in the country.
The bills, which include the K18.9 billion Covid-19 Response Support, aims at addressing social-economic challenges that are rocking the nation due to the coronavirus pandemic.
According to Finance Minister, Felix Mlusu, Malawians should be assured that the borrowed money will be channeled towards the intended purpose.
Mlusu said: “We have assured the august House that as government we will make sure that these funds are used for the intended purposes and not otherwise.”
The Bills include the International Development Association (Additional Financing for Southern Africa Tuberculosis and Health Systems Support Project) (Authorisation) K20 billion, European Investment Bank (Additional Financing for Treatment Works III Project) Loan (Authourisation) K2 billion.
International Development Association (Governance to Enable Service Delivery Project) (Authourisation), International Development Association (Financial Inclusion and Entrepreneurship Scaling Project) Loan (Authorization) K63. 6 billion and African Development Fund (Covid-19 Response Support) Loan (Authorization) K18.9 billion.
The national Assembly rises on Friday, October 23, after passing a K2.1 trillion National Budget.