Malawi Benefits from SDG Fund
Malawi is among four countries across the world selected to benefit from the United Nations’ New Joint Sustainable Development Goals (SDG) Fund allocation of $41 million.
From the Fund, the country has been allocated $8 million, equivalent to K6.2 billion to accelerate the SDGs.
Other countries are Fiji, Indonesia and Uruguay.
Breaking the news through the statement, the United Nations said Malawi will, among others, reduce poverty and hunger through the allocation.
“Malawi will reduce poverty, hunger and inequality by creating jobs and supporting small businesses in the country’s severely undercapitalized agricultural sector,” reads the statement in part.
UN Deputy Secretary General, Amina Mohammed, says the Fund is a vehicle to impact investing and provides catalytic grants to unlock private capital towards blended financing of SDG investments.
“Our dream is to bring together Wall Street and the rapidly increasing focus on ESG, impact investing, and investor excitement on the SDGs.
“The Joint SDG Fund is the vehicle to make this dream a reality. The Fund provides catalytic grants to unlock private capital towards blended financing of SDG investment,” she said.
The Fund is a contribution from the European Union and Governments of Denmark, Germany, Ireland, Luxembourg, Monaco, Kingdom of Netherlands, Norway, Portugal, Spain, Sweden and Swiss Agency for Development and Cooperation.