Mozambique: African Development Bank provides budgetary aid

27 October 2008

Maputo, Mozambique, 27 Oct – The African Development Bank (ADB) has approved a loan of US$93.4 million to fund the second stage of the Plan of Action to Reduce Absolute Poverty (PARPA II) in Mozambique for the 2008/2010 period, officials have said.

This budgetary aid, according to a statement from the ADB cited by Mozambican newspaper Notícias, aims to boost transparency and accounting mechanisms in use of public resources, on both a national and district level.

The programme aim, especially, to boost the responsibilities of the Administrative Courts and the Consulting Councils of the districts in order to efficiently carry out their role.

A further 18 development agencies will provide funding for the programme in Mozambique, which is ranked 172nd out of a total 177 countries around the world in the Human Development Index.

The operations of the ADB group in Mozambique began in 1997. So far the group has provided US$1.7 billion for 71 projects in the country. The current portfolio of projects covers 24 operations, to a total value of US$554 million. (macauhub)