The Malawi Agriculture and Industry Investment Corporation (Maiic) has blamed the lack of financing on agroprojects, on  the shortage of foreign exchange.

Maiic Chief Executive Officer Taz Chaponda also said  slow document processing is also a challenge derailing financing of some projects, as the corporation’s disbursement rate is affected by the client’s ability to comply with loan conditions and the inability to access foreign currency for the bigger infrastructure projects.

20 projects were approved to receive funding of up to K28.6 billion from Maiic but only 10 have received K2 billion.