World Bank grants US$85 million to fund Mozambique’s state budget

21 September 2009

Maputo, Mozambique, 21 Sept – The World Bank has granted US$85 million to fund Mozambique’s state budget, with a further US$110 million and US$80 million expected o be granted in 2010 and 2011, respectively.

Between 2009 and 2011 the projects funded by the World Bank in Mozambique total US$707 million, most of which is directed at infrastructure.

The management of projects funded by the World Bank in Mozambique is improving despite some continuing constraints.

Susan Hume, project manager for the World Bank, said that in terms of new projects currently under discussion are the areas of higher education and expansion of access to electricity, funding for which is expected to be US$25 million and US$80 million, respectively.

Hume, during a meeting with the government, said that the rise in amount of World Bank funding was a reflection of the improvements Mozambique has seen and also noted that the quality of the Mozambican portfolio of projects was above average for the Southern Africa region. (macauhub)

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