CDH Investment Bank has signed a partnership agreement with the Lilongwe University of Agriculture and Natural Resources (LUANAR) for strategic initiatives to support LUANAR in strategic initiatives. The The two institutions signed a partnership agreement worth K60 million, that will see CDH Investment Bank provide funding for LUANAR to carry out three strategic initiatives namely, the annual LUANAR tree-planting initiative that seeks to fight effects of climate change, the agri-innovation challenge to promote innovations in the country and the provision of five innovative scholarships to secondary students to study at LUANAR.
Speaking on Friday 27th January 2023 in Lilongwe during the signing ceremony, CDHIB Executive Director, Beatrix Mosiwa said the funding seeks to create value for the nation by supporting a green economy and improving access to education for talented students.
She said: “As CDHIB celebrates 10 years of banking operations under the theme, creating value, we are committed to support initiatives that will help develop our nation. We believe that investment in our environment, innovation and supporting the education of talented needy students, creates value in the development of our nation, as these initiatives positively contribute to the overall growth of our nation.”
Mosiwa said the funding resonates well with the bank’s core purpose which seeks to see the growth in all sectors of the Malawi economy.
LUANAR Vice-chancellor Professor Emmanuel Kaunda hailed the bank for the financial support, saying it will support the university in its efforts of fighting deforestation and addressing issues of climate change. He said LUANAR plans to plant over 6 000 trees in 2023 following the support. Last year the institution planted about 3000 trees.
Said Kaunda: “The idea of afforestation and the idea of greening our country goes long way to alleviating issues that we have in terms of climate change and many issues we are experiencing today.”
The inaugural innovation challenge will see the university help provide solutions to agriculture problems in society and the economy as a whole.
The scholarships will be the first of their kind for secondary school students LUANAR, Kaunda emphasized that scholarships will assist a pool of talented needy students from secondary schools.
He assured the bank that the funds will be used for the intended use and contribute to addressing challenges facing the country.
External link: https://mwnation.com/luanar-cdhib-ink-k60m-deal-to-promote-innovations/