The World Bank has given the Malawi Agricultural and Industrial Investment Corporation (MAIIC) a sum of $16 million [about K12 billion] loan from tto boost businesses among small and medium enterprises (SMEs).

According to the Maiic Managing Director Taz Chaponda, the sum aims for SMEs in agriculture, Information and Communication Technology (ICT) and manufacturing sectors. “The broad terms have already been agreed with the World Bank and Maiic and we are looking forward to kick-start this new credit facility by mid-April,” said Chapponda.