§ Mr. Raison
In support of measures undertaken by the IMF and IBRD, we have offered to provide a grant of £2.5 million for the purchase of British raw materials, spare parts and replacement equipment needed to maintain Malawi's productive capacity and infrastructure. Priority will be given to the needs of the private sector and parastatal bodies, whose activities are seriously con-strained through lack of foreign exchange. The grant will be made available over a period of two years.
We have also agreed to undertake a road rehabilitation project (Liwonde-Monkey bay) at a cost of £3,173 million in the present and the next financial year.