The African Development Bank AfDB has committed 402 million United States dollars for infrastructure development along the famous Nacala corridor.
From this amount, 72 million dollars will be for the establishment of two-one- stop border posts in Zambia, Malawi and Mozambique.
AfDB Resident representative for Malawi Andrew Mwaba disclosed this during the official launch of the multinational Nacala development Project under phase four in Chipata today.
He says the overriding development objective of the project is to enhance corridor efficiency for movement of traffic along the Nacala Corridor.
Mr. Mwaba says Nacala corridor under phase four is part of the multinational project for which the bank and other development partners are supporting in the three countries.
He says once the Nacala Corridor is improved, is expected to complement the traditional sea-port routes to Durban, Beira and Dar-Es-Salaam, which will contribute to socio-economic integration of the region.
Speaking at the same meeting, Transport, Works, Supply and Communications Minister Yamfwa Mukanga says Nacala Corridor is one of the important trade corridors in Southern Africa.
He says the development will be critical in enhancing the competitiveness of the trade and economies due to the uniqueness of Zambia being landlocked.
The minister says the port of Nacala is a natural deep port and can accommodate most sea vessels.
And Malawian Minister of Industry and Trade, Joseph Mwanamvekha says Malawi Government is committed to undertaking trade facilitation reforms aimed at improving the overall business environment in the country and across the borders.
Mr Mwanamvekha says his ministry will continue facilitating initiatives in the country aimed at harmonizing, standardizing, and modernization of international trade procedures with a view to reducing the transaction costs and time in local and international trade.