Brazil available to fund construction in Mozambique provided contractors are Brazilian

10 July 2009

Maputo, Mozambique, 10 July – The Brazilian government is available to negotiate loans with Mozambique for large scale construction projects, provided that contracts are awarded to Brazilian companies, Brazil’s deputy Development, Industry and Trade Minister said Thursday in Maputo.

Ivan Ramalho is in Maputo with a delegation of businesspeople, which met Thursday with their Mozambican counterparts, with parallel meetings taking place between two Brazilian banks and Mozambican government officials.

The aim, the deputy minister told Portuguese news agency Lusa, was to identify along with the Mozambican government project that could be funded by Brazil, such as ports or hydroelectric dams, whilst also negotiatiing a financing project for them.

Brazil, he said, has large construction companies, “with great international experience” and which “have a great desire to boost operations in Africa,” where many are already set up and “ready to start construction projects.”

“The (Brazilian) Government can finance these projects so long as that work is carried out by Brazilian companies,” said Ramalho.

Ramalho’s visit to Mozambique came a few days ahead of a scheduled visit by Mozambique’s President, Armando Guebuza to Brazil, from 19 to 23 July.

Ramalho noted that the presence, in Maputo, of officials from the Bank of Brazil and Banco Nacional de Desenvolvimento Económico e Social could also identify priority projects that could be funded by the banks.

“We believe that there are very favourable prospects,” said Ramalho, who is in Mozambique accompanied by around 40 businesspeople, as well as officials from Brazilian export and investment agency APEX-Brasil. (macauhub)