The European Investment Bank (EIB) and the National Bank of Malawi (NBM) have announced a 30 million euros facility for the financing of private sector projects in Malawi with a special focus on the development of agricultural storage capacity in the country.

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“The lack of agricultural storage facilities has been an issue for the development of the agriculture sector in Malawi”, said Robert Schofield, head of the EIB’s Global Partners’ Financial Sector Division. “The EIB facility aims to address this issue to the benefit of the farmers as well as the Malawian authorities by improving market transparency and providing information for a more efficient agriculture policy.

” According to NBM’s Chief Executive Officer Dr. George Partridge, new agro storage assets will greatly reduce post-harvest losses in Malawi and help in improving national development.