ADB wants to speed up delivery of funds for projects in Mozambique

30 October 2009

Maputo, Mozambique, 30 Oct – The representative of the African Development bank (ADB) in Mozambique said that the institution planned to speed up the process of paying out funds for approved projects in the country, according to Maputo daily newspaper, Notícias.

Thus, Alice Hamer called on the government and all parties involved in carrying out those projects to hand in all necessary documentation in a timely fashion.

“We have noted, with some frequency, delays in presenting documents for meeting project conditions, after the approval of their respective financial agreements by the bank’s Board of Directors. In order to change this, the two sides are making efforts to reduce this time by as much as possible and start, immediately, with pay outs, as outlined in the documents,” Hamer said.

Hamer also noted that the ADB’s operations in Mozambique had seen a continual rise since, in 1977, the first project was funded in the country just after national independence in 1975.

She also said that the ADB had been focusing its operations on the area of infrastructures, which was in line with the strategy for development outlined in the Plan of Action to Reduce Absolute Poverty (PARPA ).

The ADB and the Mozambican government recently signed three funding deals for various projects, one of which is for water supply and sanitation for the cities of Lichinga and Cuamba in Niassa province, to the value of US$27 million, another for emergency work on the Massingir dam, in Gaza province, to the value of US$20 million and a third to asphalt the Nampula-Cuamba road over 350 kilometres, to the value of US$160 million. (macauhub)