Background/
Introduction
The Development Fund for Local Authority was a component of the 1992
- 2001 World Bank/IDA funded Local Government Development Project (LGDP).
The DFLA was
registered under Trustees Incorporation Act 1962 in October 1993 and was given
autonomy to exist and operate independently as a Trust in 1994.
It is an
in-house project within Ministry of Local Government, Unity and Culture hence
no need to be registered with the Reserve Bank of Malawi.
DFLA is
managed by a Board of Trustees whose membership is drawn from relevant
Government ministries, departments, public and private sector bodies with the
Secretary for Local Government, Unity and
Culture as Chairperson.
The
Secretariat of DFLA is headed by the Chief Executive who is responsible for the
administration and management of the affairs of the Fund.
Vision
Local Authorities lender of first resort
Mission
To provide
competitive financial services to Local Authorities for the promotion of
socio-economic development.
Core
Values
Professionalism,
Integrity, Transparency and Accountability, Customer Centric, Impartiality,
Discipline, Creativity and Innovation, Teamwork
Mandate
Provide
loans to local authorities to meet capital expenditure to enable them to
provide and maintain municipal services and infrastructure at the level
consistent with the affordability, size and growth rate of the population
Acquire,
administer, control, maintain and operate any premises, including the fittings,
machinery, equipment, fixtures and stocks included therein or necessary thereof
to be used for the administration and management of financial assistance to
local authorities,
To ensure an
effective, efficient, economical and sustainable micro-finance management
system that caters for Local Authorities’ developmental needs;
To ensure
the availability and accessibility of adequate financial resources to Local
Authorities at all times;
To develop
and maintain an information system and policy that promotes transparency and
accountability in the provision of financial resources to Local Authorities;
and
Any other
purposes decided upon by the Trustees as being appropriate to the advancement
of local authorities to manage urban growth and development but so, however,
that in no circumstances shall the Trust acquire and operate any business for
its own satisfaction or profit.