Now Reading
World Bank Loans to Mozambique Up to $1.5B in 2023

World Bank Loans to Mozambique Up to $1.5B in 2023

World Bank Group loans to Mozambique reached historic levels in 2023. Data available on the institution’s website indicates that, last year, the World Bank granted US$1.5 billion in loans to the Government of Mozambique, compared to US$1.2 billion in 2022. The previous year, it lent US$1.1 billion, and in 2020, US$527 million.

The amount borrowed in 2023 was channelled by the government to, among various expenses, the Climate Resilience Program in Eastern and Southern Africa in the amount of US$125 million.

The World Bank Group last year provided a loan of US$200 million for the East African Regional Women and Girls Empowerment Project and US$150 million for the Urban Water Security Program.

From the list of expenses, the highlight also goes to the amount of US$300 million for the State Budget and US$25 million for the Integrated Development Project for Rural Roads in the provinces of Zambézia and Nampula.

World Bank financing in 2023 also went to the Improving Access to Finance and Economic Opportunities Project, in the amount of US$300 million.

From 2020 to 2023, the sum of World Bank loans totals US$4.4 billion.

The loans record reached in 2023 could cement the World Bank as one of Mozambique’s main creditors, as happened in both 2022 and 2021.

The loans include commitments made by the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), part of the World Bank Group.

Carta de Moçambique

SUBSCRIBE TO GET OUR NEWSLETTERS:

See Also

SUBSCRIBE TO GET OUR NEWSLETTERS:

Scroll To Top

We have detected that you are using AdBlock Plus or other adblocking software which is causing you to not be able to view 360 Mozambique in its entirety.

Please add www.360mozambique.com to your adblocker’s whitelist or disable it by refreshing afterwards so you can view the site.