The African Development Bank (AfDB) has granted 990,000 euros ($1.18 million) to agro-processing companies in Mozambique.
The funding comes from the Italian Technical Cooperation Fund.
“We are pleased to receive this grant from the African Development Bank and the Italian Fund for Technical Cooperation, which will benefit about 300 agro-processing associations and agro-industries of Small and Medium Enterprises (SMEs) in Mozambique, particularly SMEs led by young people and women operating along the Nacala-Beira-Pemba-Lichinga development corridors,” said Agostinho Vuma, President of the Confederation of Business Associations of Mozambique, at the ceremony to hand over the grant funding.
In his turn, Italian Ambassador Gianni Bardini added: “the grant is apt to intensify the intense bilateral relations in the agricultural area built through the many projects funded by the Italian cooperation and that can act as a catalyst to extend it to the private sector where there is a huge and largely unexploited potential”.
The agricultural project is aligned with the interest of the Mozambique National Strategy Paper (2018-2022), which mentioned investment in infrastructure, agricultural transformation and value chain development as the pillars for building strategic growth.
