DOS-AF-MWI-FY24-01

Description

U.S. Embassy Lilongwe announces this Notice of Funding Opportunity for a Fiscal Transparency Innovation Fund grant up to $781,854 in FY 2024 Economic Support Funds to be awarded (pending availability of funds) to promote transparency in Malawi’s extractive sector and the impact of mining revenues on government borrowing. The program aims to enhance public access to information on mining licensing and contract awarding, beneficial ownership, mining revenue collection, and public debt. The program will result in, among other things, 1. improving transparency in awarding natural resource contracts and licenses, and public debt management; 2. curtailing illicit practices and corruption through monitoring of beneficial ownership; and 3. enhancing fair taxation, prudent mining revenue utilization, and community impact of the mining projects. These will help strengthen Malawi’s compliance with Extractive Industries Transparency Initiative international standards, supporting investors in making well-informed investment decisions, reducing investment risk, and building investor confidence. This project will enhance public debt transparency in Malawi by developing a standard for national debt data publication and publishing increased information about Malawi’s debt situation. Improved public debt transparency will strengthen parliamentary and public oversight over excessive government borrowing, a key driver of Malawi’s economic instability. Public access to mining information and public debt data will also enhance fiscal discipline and promote ethical business practices, creating a more stable business environment and encouraging fair competition for all players in the sector. The period of performance is a maximum of twenty-four months.

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