Mozambique: World Bank supports fight against poverty with US$100 million aid package

6 November 2008

Washington, USA, 6 Nov – The World Bank Wednesday in Washington announced a US$100-million aid package to help Mozambique fight poverty under the terms of a programme to support economic reform.

The US$90 million loan and a donation of US$10 million are part of a programme to reduce poverty and will help the Mozambican government to respond to the rise in fuel and food prices, the World Bank said in a statement.

“Both the loan and the donation show the World Bank’s efforts to help Mozambique to continue with an honest reformist agenda and, thus, remove obstacles to economic growth,” said Michael Baxter, the World Bank director for Mozambique, Angola, Malawi, Zambia and Zimbabwe.

Baxter also said that the US$100 million would support the continuation of some key government reforms within the scope of financial management and the state’s acquisition of goods. (macauhub)