Afreximbank and Export Development Fund Limited of Malawi host inaugural Joint Project Preparation Facility (JPPF) Workshop in Lilongwe, Malawi

Categories: Press Releases

Cairo 26 September 2022 – African Export-Import Bank (Afreximbank) and Export Development Fund Limited (EDF) of Malawi recently co-hosted a workshop in Lilongwe under the theme “Leveraging Project Preparation to Unlock Industrialization and Export Development Opportunities in Malawi.” This first-of-a-kind workshop was aimed at raising awareness of the ongoing collaboration between Afreximbank and EDF in the project preparation space to catalyse the attainment of the Government of Malawi’s MW 2063 Vision.

During the workshop, Afreximbank and EDF showcased how their existing partnership is geared towards providing early project preparation financing and technical support services to public and private sector entities with a sharpened focus on industrialization and export development activities in Malawi. The workshop brought together leaders from Government of Malawi, private sector, regulatory agencies, policy makers and international development finance agencies.

Delivering his keynote address at the workshop, Malawi’s Minister of Finance and Economic Affairs, Honorable Sosten Gwengwe said, “The need for galvanized efforts to finance big-ticket infrastructure development projects cannot be overemphasized. In this regard, the Joint Project Preparation Facility will go a long way in assisting the Government of Malawi to actualize its vision to transition Malawi into an industrialized upper middle-income country.” The Minister highlighted that the national budget alone cannot satisfy the investment demand. The Minister underscored that one of the biggest challenges affecting financing of high value transformative projects is the lack of well-prepared projects.

In his opening remarks,Malawi’s Minister of Trade and Industry, Honorable Marks Katsonga Phiri stated, “The Joint Project Preparation Facility will develop and increase the number of bankable projects with significant economic and developmental impact in various sectors. This will unlock opportunities for industrialization and export development that will in turn improve and upscale value-added exports from Malawi to the regional and international markets, capitalizing on the preferential market access privileges that Malawi enjoys under the Africa Continental Free Trade Area (AfCFTA)”.

In his welcome remarks, the Deputy Governor of the Reserve Bank of Malawi, Mr. William Matambo said, “The Reserve Bank of Malawi considers the Joint Project Preparation Facility as a key initiative to bolster the country’s balance of payments position within the framework of raising exports that the Reserve Bank is advancing and highlighted that the forex challenges that are affecting the Malawian economy could be improved by the initiative in the medium term”.

In her opening remarks, Afreximbank’s Director, Export Development, Ms. Oluranti Doherty said, “In order to promote Industrialization and Export Development across the continent, Afreximbank has developed the Joint Project Preparation Facility that aims to support our development partners to mobilize and leverage third party capital to be deployed towards de-risking projects and progressing them to bankability and an investment-ready state. Project preparation plays a significant role in unlocking and closing out the infrastructure and investments gaps in Malawi and plays a proactive role in driving resilient and sustainable economic development.”

A key highlight of the workshop was the handing over ceremony of the prepared bankable feasibility studies for the Lilongwe and Blantyre Industrial Parks to the Minister of Finance and Economic Affairs and the Minister of Trade and Industry. This milestone marked the completion of the first phase of the ongoing collaboration between Afreximbank and EDF under the JPPF to develop, implement and commission two industrial parks in Malawi. When fully implemented, the two Industrial Parks will catalyze and accelerate the industrial development of Malawi in the agro-processing and light manufacturing sectors. The workshop also marked the commencement of the second phase of the ongoing development of the two landmark projects.


About Afreximbank

African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. The Bank has a rich history of intervening in support of African countries in times of crisis. Through the Pandemic Trade Impact Mitigation Facility (PATIMFA) launched in April 2020, Afreximbank has disbursed more than US$6.5 billion in 2020 to help member countries manage the adverse impact of financial, economic, and health shocks caused by the COVID-19 pandemic. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has completed the development of a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA. At the end of 2020, the Bank’s total assets and guarantees stood at US$21.5 billion, and its shareholder funds amounted to US$3.4 billion. Afreximbank disbursed more than US$42 billion between 2016 and 2020. The Bank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1) and Fitch (BBB). The Bank is headquartered in Cairo, Egypt.

For more information, visit:

Follow us on Twitter | Facebook | LinkedIn | Instagram

About EDF

Export Development Fund (EDF) is a Development Finance Institution (DFI) incorporated in 2012 with a mandate to promote the growth as well as diversification of the country’s exports. The Fund’s mission is to accelerate structural transformation in Malawi through various financial and non-financial interventions availed to business in growth sectors of the economy. Not only does EDF support revenue generation through exports, but also play a leading role in job creation by investing in the ambitious projects and initiatives with the aim of enhancing the competitiveness of Malawi’s exports. By taking on strategic investments that may fall outside the risk acceptance criteria for commercial banks, the additionality of EDF’s interventions is pronounced as it is able to reach out to enterprises that are in dire need of financing as recently demonstrated by our COVID-19 Trade Impact Mitigation Facility (COTIFA).

For more information, visit:

Follow us on Twitter | Facebook | LinkedIn |