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MEF: Mozambique Negociates Thirteen External Donations Worth Almost €700M

MEF: Mozambique Negociates Thirteen External Donations Worth Almost €700M

According to official figures, the Mozambican government had negotiated 13 external donation agreements for various projects until September, totalling $735.89 million (€696.4 million).

According to budget execution data for the first nine months of the year from the Ministry of Economy and Finance, during this period “13 financial donation agreements were negotiated”, the most recent being with the World Bank (WB) in September, worth $170 million (€162.4 million), for the Regional Emergency Recovery Project and Access to Inclusive Recovery.

Of the agreements negotiated this year, eight were with the WB, totalling $601 million (€568.8 million) and five with the African Development Bank, totalling $134.89 million (€127.6 million).

In addition, two concessional credit agreements were signed with the Arab Bank for Development in Africa, totalling $20 million (€ 18.9 million) to finance the “One district, one hospital” initiative, and with an Italian state bank, totalling $36 million (€ 34 million) for an agri-food project in Manica (west).

On 16 April, the president of the World Bank Group, Ajay Banga, highlighted Mozambique’s role as a base for the electricity market in southern Africa, after a meeting in Washington with the Mozambican President, promising new partnerships with the country.

“We had a good discussion about the work being done, the results of the economic development that Mozambique is trying to achieve, the improvement in economic growth, the improvement in inflation. But the most important thing is that we discussed the opportunity for young people and their future and how, if we invest in young people, this will become the country’s future,” said Ajay Banga, speaking to journalists after meeting with Filipe Nyusi.

At the meeting, which took place at the World Bank headquarters in the US capital, the two leaders discussed “the importance of them [young people] for employment and how to create jobs with certain assets that Mozambique is already doing a good job with, such as energy and electricity,” said Banga.

Mozambique has improved “access to electricity for its population, and there is more to come, and it is also becoming a base for the electricity market in southern Africa, an excellent step forward,” he added.

The president of the World Bank Group then argued that there is still “a lot that the government and the private sector can do together”, not just in electricity.

“Including tourism and infrastructure, all aligned to create jobs for the future of our world, which is young people. So I want to congratulate the President and his government for their work. I look forward to more joint partnerships,” said Banga.

Lusa

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