By Linda Kwanjana
President Dr Lazarus McCarthy Chakwera has safely landed in Saudi Arabia for the first Saudi-Africa Summit.
Barely hours after his arrival, the Saudi government announced that it will sign loan agreements with African countries worth $533 million (K906 billion) on the sidelines of the summit.
This news has been revealed today by the Saudi Minister of Finance Mohammed Al-Jadaan during the opening of the Saudi-Arab-African Economic Conference in Saudi Capital-Riyad ahead of the Saudi-Africa Summit on Friday.
It is expected that this money will help to finance different outstanding projects in African countries including Malawi.
Apart from this particular development funding, the Malawi government is set to benefit from the Saudi Fund for Development with money amounting to $20 million for the construction of the Makanjira road.