Export Development Fund disburses K80 billion in 8 years – The Times Group
A statement issued by Export Development Fund (EDF) has indicated that some 98-export oriented local businesses have accessed funding worth K82.96 billion between 2014 and 2022.
It further indicates that the institution has contributed to the creation of over 25,000 jobs and saving at least 1,400 jobs by supporting transformative export-oriented transactions and infrastructural projects.
EDF Managing Director Fredrick Chanza said since inception, the fund has expanded its mandate to cover critical areas that support the national transformation agenda.
“We have grown from only focusing on financing downstream export transactions to investing in upstreaming interventions, such as project preparation, infrastructure finance and support to trade-related logistics.
“Up to date, we have disbursed funds close to K82.96 billion to businesses, out of which K10 billion went towards supporting SMEs, about K2 billion supported youth-led businesses and we also approved transactions worth about K765 million for women-led businesses,” Chanza said.
“We are in the process of facilitating strategic export-enhancing initiatives, such as industrial parks, mining and export trading companies, which will crowd in investments of over $1 billion within the next two to three years. We remain committed to providing financial solutions that will help to accelerate structural transformation in Malawi.”
EDF provides financing solutions to businesses in the form of debt or equity, quasi-equity, guarantees, trade finance, bridging finance and venture capital and project preparation services.
The financial solutions are aimed at stimulating the country’s productive potential and supporting the development, facilitation, expansion and promotion of exports and cross-border trade while encouraging value addition to local products.
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