OPEC Fund for International Development (Jenda Water Supply and Sanitation Project) Loan (Authorization) Act, 2025

This section gives the Act’s short title.

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Jurisdiction: Malawi
Instrument: Act or statute
Citation: Act 34 of 2025
Version: 30 Dec 2025
Language: en
Official source: View official record ↗

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

consolidated fund government borrowing government payments loan agreement execution loan proceeds use payments project financing tax exemption

Statute overview

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This section gives the Act’s short title. The Minister of Finance is authorized to borrow up to USD 27,000,000 from the OPEC Fund on behalf of the Government. Loan proceeds must be used to finance the Jenda Water Supply and Sanitation Project, and not for any other purpose. The amounts needed for repayment of the Credit, interest, commitment fees, and other Government payments to the OPEC Fund under the Financing Agreement are charged on the Consolidated Fund. Payments under section 4 are exempt from deductions, taxes, charges, and other legal restrictions.

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Provisions of OPEC Fund for International Development (Jenda Water Supply and Sanitation Project) 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 OPEC Fund for International Development (Jenda Water Supply and Sanitation Project) Loan (Authorization) Act, 2025.
2
Authority to borrow the sum of USD 27,000,000
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AI-assisted research summary: The Minister of Finance is authorized to borrow up to USD 27,000,000 from the OPEC Fund on behalf of the Government.

2. Authority to borrow the sum of USD 27,000,000 (1) The Minister of Finance, on behalf of the Government of the Republic of Malawi (the "Government"), is hereby authorized to borrow from the OPEC Fund for International Development (the "OPEC Fund"), sums of money not exceeding in the aggregate, the equivalent of twenty-seven million United States Dollars (USD27,000,000) (the “Loan”) 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 OPEC Fund. (2) The terms and conditions which the Minister may agree with the OPEC Fund shall be reduced in writing and such written agreement is hereinafter referred to as the "Financing Agreement".
3
Application of the Loan
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AI-assisted research summary: Loan proceeds must be used to finance the Jenda Water Supply and Sanitation Project, and not for any other purpose.

3. Application of the Loan The proceeds of the Loan authorized by section 2 shall be appropriated and applied for the purpose of providing additional financing for the Jenda Water Supply and Sanitation Project, and for no other purpose.
4
Payments charged on the Consolidated Fund
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AI-assisted research summary: The amounts needed for repayment of the Credit, interest, commitment fees, and other Government payments to the OPEC Fund 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 fees and any other payments to be made by the Government to the OPEC Fund, 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.

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, sign, and carry out the Financing Agreement.

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 Loan; (b) sign the Financing Agreement on behalf of the Government; and (c) do such other things as may be necessary to implement the terms of the Financing Agreement.

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OPEC Fund for International Development (Jenda Water Supply and Sanitation Project) Loan (Authorization) Act, 2025

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