Portuguese government approves fund to back investment in Mozambique

26 February 2010

Lisbon, Portugal, 26 Feb – The Portuguese government has approved creation of a US$124 million fund to support investment in Mozambique, State Secretary for Treasury and Finances Costa Pina announced in Lisbon.

At the end of a Thursday Council of Ministers meeting, Costa Pina said the fund meant to honour the Portuguese state’s commitment “in the context of negotiations to deliver control of Cahora Bassa to Mozambique,” promoting investment in the economy “up to the limit of US$124 million.”

The fund, whose investment horizon is five years, is to last for 15 years and aims to “frame investment made in Mozambique” and “promote investment by companies from Portugal or with Portuguese participation, or exports of goods and services from Portuguese companies,” he said.

The fund will be applied in the sectors of infrastructures, environment and energy.