African Development Bank grants Mozambique US$1.3 billion over 29 years

7 July 2006

Maputo, Mozambique, 07 July – The African Development Bank (ADB) has granted Mozambique over US$1.3 billion since it began operating in the country in 1977, which has made it possible to launch 70 actions, including 52 development projects, officials have said.

The amount has been used to support agriculture, water and sanitation, industry and projects in several sectors, but so far only 16 projects have been concluded.

These figures were issued by Mozambique’s Minister of Planning and Development, Aiuba Cuereneia, who was speaking to journalists at the end of a meeting to revise the portfolio of projects financed by the ADB in the country.

Cuereneia said that there were currently 24 projects underway representing investments of US$512 million and which mainly involved the infrastructure sector.

Within the scope of the ADB’s support for the country, the Mozambican government recently approved a Strategy for Assistance to Mozambique for the 2006/2009 period.

Thus, over the next three years the ADB will grant Mozambique US$116 million to support the State Budget and US$55.1 million for the water sector, Cuereneia said.

The Mozambican government and the ADB’s representatives in Mozambique are due to begin negotiations for the bank to begin providing 100 percent financing and the need to look into the possibility fo the bank financing projects in the country’s districts. (macauhub)