Germany provides Mozambique with 12 million Euros for development projects

3 August 2009

Maputo, Mozambique, 03 Aug – The German government has announced the granting of 12 million Euros to fund programs of basic education, technical professional training, decentralized planning and finance and the fight against AIDs.

Under the scope of the agreement, the German government is looking to provide a further eight million Euros for mobilization projects to increase savings (2.5 million Euros), for the mobile banking service (two million Euros) and for microcredit, through Banco Terra (3.5 million Euros).

The agreements are the result of an understanding reached during the latest rounds of bilateral negotiations in February, at which Germany promised to maintain its support of Mozambique’s development program over the next three years.

Therefore in the three years 2009-2011, the German government will concentrate its aid on the provinces of Inhambane in the south, and Sofala and Manica in the central region in the areas of education, rural development, sustainable economic development and direct support for the General State Budget. (macauhub)