African Development Bank grants Mozambique 258 million-euro loan

6 July 2006

Maputo, Mozambique, 06 July – The African Development Bank (ADB) has approved the Aid Strategy to Mozambique for 2006-2009, which corresponds to a loan of US$258.1 million, the Mozambican Ministry of Planning and Development said Wednesday in Maputo.

In a statement, the Ministry said the loan would be used for building and maintenance of infrastructures and direct support for Mozambique’s State Budget, particularly the areas of reform and good governance.

The loan provided to Mozambique is one of the highest offered by the African Development Fund of the ADB and the strategy to be funded was considered by the bank’s board of directors as “a model document to be followed in order to draw up other ADB strategies,” the statement said. (macauhub)