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

Act 34 of 2025

OPEC Fund for International Development (Jenda Water Supply and Sanitation Project) Loan (Authorization) Act, 2025
This is the latest version of this Act.
Citation
Act 34 of 2025
Date
30 December 2025
Language
English
Publication
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Malawi

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

Act 34 of 2025

An Act to authorize the Government of the Republic of Malawi to borrow sums of money, not exceeding in the aggregate, the equivalent of twenty-seven million United States Dollars (USD27,000,000) from the OPEC Fund for International Development and to provide for matters incidental theretoENACTED by the Parliament of Malawi as follows—

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

(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

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

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. 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

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.

History of this document

30 December 2025 this version
Commenced
20 December 2025
Assented to
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