Mozambique: China provides funding of US$42.2 million to Mozambique

19 November 2008

Maputo, Mozambique, 19 Nov – China and Mozambique Tuesday in Maputo signed threde funding agreements, one of which is worth 129 million yuan (around US$18 million) and is aimed at agricultural development in the Zambezi valley.

Signed by Mozambican finance minister, Manuel Chang and by the Chinese ambassador to Mozambique, Tian Guangfeng, the second agreement to the value of 150 million yuan (around US$21.4 million) is for construction of the National Stadium, a venue to host large national and international sports events.

A third agreement was also signed to the value of 20 million yuan (around US$2.8 million) in the form of a donation from the Chinese government to fund projects as yet to be defined by both sides.

At the end of the ceremony to sign the agreements Chang said that the funding for agriculture in the Zambezi valley “has come at the exact right time, considering that we are putting into place a plan of action for food production.”

In relation to the second agreement, Chang said it was a continuation of the Chinese funding that had been provided to build the National Stadium.

“We have had three agreements and this is the fourth in the list of staged funding for this project, work on which has already begun and are scheduled to finish next year,” the finance minister said.

China has funded the construction and refurbishment of important infrastructures in Mozambique, including the Republican Assembly, the Ministry for Foreign Affairs and Cooperation and the Joaquim Chissano Conference Centre. (macauhub).