Economics
Clinton, Geithner Approve $350 Million for Malawi Power
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Secretary of State Hillary Clinton and a public-private board of directors, including Treasury Secretary Timothy Geithner and venture capitalist Alan Patricof, today approved a $350.7 million grant for Malawi to boost economic growth by improving its electric power system.
The board of the Millennium Challenge Corp., an agency created by President George W. Bush to promote growth and reward democratic governance in poor countries, said the grant will help the southern African nation improve its electric supply by renovating power stations and improving distribution networks.