The Minister of Finance, Carla Loveira, met last week with representatives of the Export-Import Bank of China (China Exim Bank) to reaffirm mutual commitments to technical, economic, and financial cooperation between the country and the Chinese banking institution.
According to Jornal O País, during the meeting both sides emphasized the importance of continuing the strategic partnership, with particular focus on financing and supporting the implementation of structural projects aligned with different governance cycles.
Quoted in the publication, the minister stated that the relationship between Mozambique and China’s Exim Bank has been characterized by a stable and trust-based environment, contributing significantly to the development of strategic projects in priority sectors of the national economy.
“The recent state visit of the President of the Republic, Daniel Chapo, to China, helped strengthen ties of friendship and deepen financial cooperation between the governments of both countries,” the Minister of Finance noted.
Loveira recalled that the Chinese institution remains one of Mozambique’s main financial partners, supporting projects in telecommunications expansion, technological innovation, and technology transfer, considered essential for the country’s economic and digital development.
In April, President Daniel Chapo expressed the intention to open a new chapter in economic and trade cooperation with China, aiming for a “real, tangible, and measurable” transformation in both countries.
“Mozambique is currently at a turning point. We have 50 years of cooperation with China, and our political and diplomatic relations are excellent. Now we want to open a new chapter in economic and trade cooperation,” the head of state said during a roundtable with Chinese government officials and business leaders.
Last year, the Chinese government waived interest on loans granted to Mozambique up to 2024 and announced a donation of 12 million US dollars (765 million meticais) to support development projects in the country. Mozambique’s Prime Minister, Benvida Levi, confirmed the information following a two-day visit to China.
“At the moment, the total external debt stands at 9.8 billion US dollars (619 billion meticais), highlighting the significant weight of China in national finances.”
During the same period, Mozambique recorded no disbursements or debt service payments to Portugal, whose outstanding debt amounted to 380.7 million US dollars (24 billion meticais). Among bilateral creditors, only Japan had a higher figure, with 405.5 million US dollars (25.6 billion meticais) at the end of June.
In February, during a Council of Ministers session, the Government urged the private sector to maximize and capitalize on exports to China, following Beijing’s announcement that it would grant full tariff exemption on imports from 53 African states starting May 1.
“This is a window of opportunity we must all take advantage of, just as there are many other opportunities for Mozambicans and beyond,” said government spokesperson Inocêncio Impissa, reacting to the measure announced by Chinese authorities.
