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Malawi launches US$18.7m business project
Malawi, on Monday, 13 October launched the Business Environment Strengthening Technical Assistance Project (BESTAP) worth US$18.7m, in order to help growth within the country's private sector.
17 Oct 2008
Minister of Industry and Trade Henry Mussa said the government of Malawi has realised that the private sector plays a big role in the socio-economic development of the country.
“This is why government through the Ministry of Industry and Trade has taken a leading role in the development of policy and institutional framework for private sector development as well as some of the identified constraints that deter its development, growth and rebranding,” he said.
The project is receiving funding in the form of grants from the International Development Association (IDA) of the World Bank and European Commission.
In order to achieve the objectives, Mussa explained that within the project they have set up the Business Growth Scheme (BUGS) with the specified objective of facilitating the maximum possible growth in private sector economic activity by offering direct technical assistance and matching grant assistance to individual private firms in Malawi.
About Gregory Gondwe
Gregory Gondwe is a Malawian journalist who started writing in 1993. He is also a media consultant assisting several international journalists pursuing assignments in Malawi. He holds a Diploma and an Intermediate Certificate in Journalism among other media-related certificates. He can be contacted on moc.liamg@ewdnogyrogerg. Follow him on Twitter at @Kalipochi.