Denmark finances transport and telecommunications projects in Mozambique

22 November 2005

Maputo, Mozambique, 22 Nov – Denmark is to loan 50 million euros (USD 65 million) to Mozambique to finance telecommunications, railroad and airport projects, officials from the countries have said.

The agreement was signed in Maputo at the end of last week by Mozambique’s Finance Minister, Manuel Chang, and by Denmark’s ambassador, Sandau-Jensen.

The projects will be financed by mixed credit, with a minimum concession of 50% of the total value of the loan. The loan is interest free and has a maturity of 15 years, officials said.

Annually Mozambique receives some USD 700 million from the international community, especially from European Union countries (Portugal, UK, and the Netherlands) and the United States. (MacauHub)