Mozambique receives US$31 million loan for power distribution

14 September 2006

Maputo, Mozambique, 14 Sept – Mozambique is to receive a US$31.1 million loan for the African Development Bank (ADB) in order to boost the country’s power distribution network, officials have said.

The project, which requires total investment of 58 million euros, is to boost distribution in the provinces of Sofala and Manica, in the center of the country, by installing power cables.

Mozambique’s state electricity company, EDM and the Organization of Petroleum Exporting Countries (OPEC) will also make a financial contribution to the project.

The ADB plans to provide total funding to Mozambique of US$250 million in the 2006-2007 period.

Since 1977 the ADB has provided Mozambique with loans totaling US$1.3 billion. (macauhub)