Portuguese credit line to Mozambique in place soon

9 February 2010

Maputo, Mozambique, 9 Feb – A credit line of 90 million euros created by the Portuguese government for Mozambique will be available “within two months” the Portuguese secretary of state for the treasury and finance said Monday in Maputo.

Carlos Costa Pina, who on a three-day visit to Mozambique met with the Mozambican energy minister, Salvador Namburete, noted that creation of the fund had been a commitment made by the Portuguese government when Mozambique took on shareholder control of the Cahora Bassa Hydroelectric Dam.

Costa Pina also met Monday with Finance minister Manuel Chang to discuss the current state of the two agreed credit lines to support investment in Mozambique.

One of the lines, worth 200 million euros, has already been around 50 percent used (particularly for infrastructure investments) and the other, worth 300 million euros was signed in September. (macauhub)