Ireland government's international aid agency Irish Aid has pledged the money. Malawi is one of nine countries that receives long term help from Ireland.
From this Press Association article that we found at the Irish Independent, we read more about what the money will be spent on.
Farmers in Malawi will benefit from the donation that will provide subsidised seeds, fertilisers and pesticides to increase maize production for vulnerable families.
The cash will also improve infant and maternal nutrition by supporting research to provide high-quality, disease-free seeds for mothers and young children.
Peter Power, Minister of State for Overseas Development, said the fight against hunger was a cornerstone of Ireland's overseas aid programme.
"Since the national agricultural programme was introduced in 2006 in response to the food crisis in Malawi, the number of people needing food aid has fallen from more than five million to fewer than 150,000," said Mr Power.
"The improvements have transformed Malawi from a net importer to a net exporter of maize and contributed to rapid economic growth.
"Notwithstanding these very impressive achievements, more than 50% of the population still live below the poverty line.