Malawi: African Development Fund signs $14.2 grant agreement for financial digitalization initiative

The African Development Fund (ADF) and the government of Malawi have signed a grant agreement for $14.2 million to undertake infrastructure upgrades and create a more efficient and transparent digital payment system. Funding for the Support for Digitalization, Financial Inclusion and Competitiveness (DFIC) project, approved last December, will be sourced from ADF, the Bank Group’s concessional financing window. “The DFIC project is aligned with the Malawi Digital Economy Strategy (2021-2026) and the Third National Strategy for Financial Inclusion (2022-2026); both contribute to achieving Malaw…

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