Mozambique: Sweden has invested 75 million kroner in private sector in last 5 years

23 July 2008

Maputo, Mozambique, 23 July – Sweden has invested 75 million kroner (US$ 12.5 million) in Mozambique between 2003 and 2007, a senior official at the Swedish embassy in Maputo told macauhub.

The Swedish funds were channeled through the Malonda Foundation, a body aimed to promote development of Niassa province, one of Mozambique’s poorest regions but with development potential. Swedish aid was used to create a local business center.

Sweden has funded a range of projects in Niassa including forestry, savings banks and other financial services and support to agriculture.

Stockholm is among 19 donor states and organizations that give direct support to Maputo’s state budget. Sweden gives about US$100 million to Maputo yearly, around half of this going to budget support. (macauhub)