Maputo, Mozambique, 28 Oct – Ireland has granted Mozambique 1.15 million euros to be used for programmes that encourage competitiveness of the private sector, under the terms of a memorandum of cooperation signed in Maputo.

Signed by the Minister for Industry and Trade, António Fernando, and by the Irish ambassador, Frank Sheridan, the memorandum stipulates that the funding will be paid out in tranches, the first of which, to the value of 150,000 euros, will be available this year.

The two final tranches, to the value of 500,000 euros each, will be transferred in 2010 and 2011, said Mozambican newspaper Notícias.

In overall terms, the memorandum aims to articulate the partnership between Irish aid and the establishment of agreements on development of cooperation between the beneficiaries.

In the same memorandum, Ireland, via its cooperation for development programme, plans to contribute to reducing poverty, supporting development, carrying out and monitoring policies that promote an increase in income of companies and creating more jobs. (macauhub)