PPPC Courts World Bank in Public University Hostels Financing
The Public Private Partnership Commission (PPPC) and International Finance Corporation of the World Bank are hatching an agreement to finance private investors to construct hostels in the country's public universities.
PPPC Chief Executive Officer Patrick Kabambe has told Zodiak Online that apart from engaging other investors, they are also in talks with the International Finance Corporation of the World Bank to finance private investors for the construction of the hostels in public universities.
Kabambe indicated the Commission is currently in the process of looking at various variables before signing the agreement with the World Bank arm.
"We are discussing with the International Finance Corporation which is the private sector window of the World Bank to see if they can support in financing private investors who can be interested in these projects. So those discussion are ongoing and are going on well because one of the challenges has been of course, access to finance by the investors," Kabambe said.
The Malawi University of Science and Technology (MUST) Vice Chancellor, Professor Address Malata, whose institution eyes to benefit from the arrangement told Zodiak, they are hoping to grow their enrollment and add more programmes from the current 40, but they are limited on both students and staff accommodation.
"Actually, at the moment we are already stuck because we are in rural area and we don't have many private sector, institutions and buildings,” she said.
Similarly, Deputy Minister of Education Monica Chayang'anamuno, also extended the appeal to the corporate players.
This also comes few months after the Corporation terminated the contract of the other investor who had challenges to proceed in constructing hostels at the Malawi University of Science and Technology (MUST).