European Investment Bank (Malawi M1 Road Rehabilitation II C) Loan (Authorization) Act, 2025

This section gives the Act’s short title.

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Jurisdiction: Malawi
Instrument: Act or statute
Citation: Act 33 of 2025
Version: 30 Dec 2025
Language: en
Official source: View official record ↗

Citation provenance: source:mw:malawilii · schema StatuteEnrichmentPublicV1.

consolidated fund financing agreement government contracting government finance government payments payment exemptions public borrowing

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This section gives the Act’s short title. The Minister of Finance may borrow up to EUR 38,000,000 from the European Investment Bank for the purpose in section 3. The Credit proceeds may be used only to implement the Malawi M1 Road Rehabilitation II C Project. The sums needed for repayment of the Credit, interest, commitment charges, and other Government payments to the Bank under the Financing Agreement are charged on the Consolidated Fund. Payments under section 4 are exempt from deductions, taxes, charges, and other legal restrictions or limitations.

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Provisions of European Investment Bank (Malawi M1 Road Rehabilitation II C) Loan (Authorization) Act, 2025

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1
Short title
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AI-assisted research summary: This section gives the Act’s short title.

1. Short title This Act may be cited as the European Investment Bank (Malawi M1 Road Rehabilitation II C) Loan (Authorization) Act, 2025.
2
Authority to borrow the sum of EUR 38,000, 000
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AI-assisted research summary: The Minister of Finance may borrow up to EUR 38,000,000 from the European Investment Bank for the purpose in section 3.

2. Authority to borrow the sum of EUR 38,000, 000 (1) The Minister of Finance, on behalf of the Government of the Republic of Malawi (the “Government”), is hereby authorized to borrow from the European Investment Bank (the “Bank”), sums of money not exceeding in the aggregate, the equivalent of thirty-eight million Euros (EUR 38,000,000) (the “Credit”) for the purpose specified in section 3 , at the times and upon the terms and conditions which the Minister may, in his discretion, agree with the Bank. (2) The terms and conditions which the Minister of Finance may agree with the Bank shall be reduced to writing and such written agreement is hereinafter referred to as the “Financing Agreement”.
3
Application of the Credit
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AI-assisted research summary: The Credit proceeds may be used only to implement the Malawi M1 Road Rehabilitation II C Project.

3. Application of the Credit The proceeds of the Credit authorized by section 2 shall be appropriated and applied for the purpose of implementing the Malawi M1 Road Rehabilitation II C Project, and for no other purpose.
4
Payments charged on the Consolidated Fund
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AI-assisted research summary: The sums needed for repayment of the Credit, interest, commitment charges, and other Government payments to the Bank under the Financing Agreement are charged on the Consolidated Fund.

4. Payments charged on the Consolidated Fund The sums required, from time to time, for the repayment of the Credit, the payment of interest and commitment charges and any other payments to be made by the Government to the Bank, under and in accordance with the provisions of the Financing Agreement, are hereby charged on the Consolidated Fund.
5
Section 5
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AI-assisted research summary: Payments under section 4 are exempt from deductions, taxes, charges, and other legal restrictions or limitations.

5. Exemption from taxes, charges, etc. All sums to be paid in accordance with section 4 shall, notwithstanding the provisions of any other written law, be paid without deductions for, and free from, any tax or charge whatsoever, and shall be free from all restrictions or limitations imposed by or under any written law of Malawi.
6
Finalization and signature of the Financing Agreement
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AI-assisted research summary: The Minister of Finance, or a person the Minister appoints, may settle the Financing Agreement’s terms, sign it for the Government, and do anything necessary to implement it.

6. Finalization and signature of the Financing Agreement The Minister of Finance, or such other person as the Minister may appoint, is hereby authorized to— (a) settle the terms of the Financing Agreement, but not so as to affect the general purpose thereof, nor increase the amount of the Credit; (b) sign the Financing Agreement on behalf of the Government; and (c) do such other things as it may be necessary to implement the terms of the Financing Agreement.

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European Investment Bank (Malawi M1 Road Rehabilitation II C) Loan (Authorization) Act, 2025

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