“The Bank has provided an African Development Fund (ADF) loan of Unit of Account (UA) 9.05 million and a grant of UA 10 million plus an additional loan of UA 6.5 million for the Nigerian Trust Fund, while the Government of Malawi is to provide UA 2.95 million in counterpart funding,” said AfDB. The UA amounts roughly correspond with the US dollar value.
The objective of the HEST project is to increase access to technical, entrepreneurship and vocational training (TEVET) as well as higher education in Malawi. The HEST project has a particular focus on ICT. “Under this project, the Bank will support the Government of Malawi in the development of teaching and learning infrastructure in institutions of higher learning and technical colleges in Malawi,” said the AfDB.
Regional Director Chiji Ojukwu for AfDB said the Malawi HEST Project correlates with the Bank’s Long Term Strategy and Human Capital Development strategy, which recognises the need for ensuring inclusive and green growth.
Malawi’s Deputy Minister of Education, Chikumbutso Hiwa recognised the banks human capital development interest in the country, which is “essential for sustained economic growth and development” and thanked the bank for its financial and technical support.
AfDB was also involved with Malawi’s Education V Project, which saw the successful rehabilitation of 18 community day secondary schools (CDSS), supply of 330,000 textbooks and the training of over 700 science teachers and school administration staff by the Malawian government.