Mozambique and the Islamic Development Bank (IsDB) have agreed to move forward with the preparation of a three-year partnership plan that will define a new strategic cooperation framework and a financing package aligned with the Government’s Five-Year Programme (PQG) 2025–29, according to the newspaper O País.
The agreement was reached during a meeting between Finance Minister Carla Loveira and IsDB Vice-President for Operations Rami Ahmad, held on the sidelines of the 51st Annual Meeting of the Islamic Development Bank Group, which took place from 16 to 19 June in Baku, the capital of Azerbaijan.
During the discussions, the parties reviewed the status of projects currently financed by the IsDB in Mozambique, including the 400-kilovolt Chimuara–Nampula power transmission line, the Temane Thermal Power Plant transmission project, and the construction of Mueda Secondary School.
According to information released by the Ministry of Finance, the new partnership plan will, for the first time, establish a structured cooperation framework between Mozambique and the IsDB, defining investment priorities and financing mechanisms tailored to the country’s economic and social development objectives.
In her address during the bank’s statutory meetings, Carla Loveira, in her capacity as Mozambique’s Governor to the institution, welcomed the re-election of Muhammad Suleiman Al Jasser for a new term as President of the IsDB.
The minister also highlighted the launch of the Concessional Financing Facility (ICF), created to support member countries that are particularly vulnerable to macroeconomic shocks. The mechanism is expected to benefit 27 least-developed countries facing challenges related to debt sustainability, climate change, and geopolitical conflicts.
On the sidelines of the event, Loveira also held meetings with Abdullah KH Almusaibeeh, President of the Arab Bank for Economic Development in Africa (BADEA), and with the President of the Multilateral Cooperation Center for Development Finance (MCDF), expressing Mozambique’s interest in deepening cooperation to finance projects included in the National Development Strategy.
The IsDB Annual Meetings also served to reinforce the importance of South-South cooperation in mobilising resources for sustainable and inclusive development, at a time when funding from some traditional multilateral institutions has been declining.
The official opening ceremony was chaired by Azerbaijani President Ilham Aliyev and brought together governors and representatives from the 53 member states of the Islamic Development Bank.
Source: Diário Económico
