Maputo, Mozambique, 12 May – The World Bank Tuesday in Maputo signed an credit agreement for the concession of US$30.4 million for the execution of the Mozambican National Decentralised Planning and Finance Programme, the bank said in a statement.
The overall aim of the operation is to support the Mozambican government in improving the performance of its national planning and finance systems by boosting local governments’ capacities to plan and manage their resources for social and economic development in a participative and transparent manner.
The project was a contribution of the International Development Agency (IDA) to a common fund, the terms of which are contained in a memorandum of understanding signed on 18 March, 2010 by the government of Mozambique, the World Bank, the United Nations, Germany, Switzerland, Ireland and the Netherlands.
The statement from the World Bank also said that the signing of this credit agreement was the result of the approval of the project by the bank’s board of directors at a meeting held on 31 May in Washington. (macauhub)