Mozambique: Private sector receives funding from World Bank

3 April 2009

Maputo, Mozambique, 3 April – The World Bank plans to provide US$25 million for the development of the private sector, increasing business competitiveness and improve the business climate in Mozambique according to the terms of a document signed in Maputo with the Mozambican government.

According to newspaper Notícias, the minister for Planning and Development, Aiuba Cuereneia, said that under the terms of the agreement there would be an increase in access to advisory services for small and medium-sized enterprises (SMEs).

The minister also said that the project included funding for the Tourism sector in Inhambane by designing and implementing the Government strategy and respective plan of action for tourism in teh province.

There are also plans for the creation of a horticultural raining centre in Nampula province, which aims to improve quality and drive exports of horticultural products.

Another aspect covered by the agreement is a boost to the capacity of public and private bodies that promote quality and standardisation.

In his turn, Michael Baxter, the regional director of the World Bank for Angola, Malawi, Mozambique, Zambia and Zimbabwe, said that the agreement as consistent with the current strategy for Mozambique, which is partially based on promoting sustainable growth and a wide base, by reducing obstacles to starting new businesses.

Baxter also said that the World Bank planned to support efforts to promote the development of human resources on all levels by boosting the skills of owners and managers of SMEs. (macauhub)