The World Bank announced this Thursday a total of $20 million earmarked for financing small, medium and micro businesses affected by Cyclones Idai and Kenneth in Mozambique.
The funding is intended for businesses that were affected in 2019 by the two cyclones, but the emphasis goes to the city of Beira, one of the most devastated, according to the World Bank’s director in Mozambique, Idah Pswarayl Riddihough, who was speaking to the press after a meeting with the private sector in the city of Beira, Sofala province, central Mozambique.
These are two funding windows: one of $15 million for medium-sized companies and another of $5 million (four million) for microenterprises.
“We understand the needs of small businesses here in Beira City. So to respond, we have opened these financing windows,” he said.
According to data advanced yesterday, for recovery after the cyclones, the World Bank supported Mozambique with about 200 million dollars, invested in projects related to water supply, reconstruction of public infrastructure, as well as disease prevention, food security, social protection and early warning systems in communities
Cyclone Idai hit the center of the country in March 2019, causing 604 deaths and 1.8 million people affected.
Shortly thereafter, in April, the north was affected by Cyclone Kenneth, which killed 45 people and affected another 250,000.
