The Malawi government is currently implementing a major energy project, having signed a $250.8 million grant with the World Bank under the Accelerating Sustainable & Clean Energy Access Transformation (ASCENT) initiative.

This significant development is expected to increase electricity access in the country from 25% to 70% by 2030.

Minister of Finance Simplex Chithyola Banda, who signed the grant agreement on behalf of the Malawi government, emphasized the importance of this project in achieving the country’s energy goals.

“This grant is a significant step towards achieving sustainable energy access and transforming Malawi’s energy sector,” said Chithyola.

President Lazarus Chakwera witnessed the signing ceremony, which took place at the Julius Nyerere International Convention Centre on the side-lines of the Mission 300 Africa Energy Summit.

The World Bank’s Managing Director (Operations), Anna Bjerde, praised the Malawi government’s efforts to increase electricity access, which has risen from 12% to 25% over the last four years.