Maputo, Mozambique, 26 May – Mozambique has received US$250 million from the International Fund for Agricultural Development (IFAD) to carry out 10 agricultural, fishing and rural finance projects over the next 28 years, the Mozambican Fisheries Minister said in Maputo Tuesday.
The IFAD funding is the equivalent of 9 percent of all funding granted to Africa and 1.7 percent of the funding granted by the UN agency worldwide.
The Mozambican authorities since Monday have been discussing with FIDA a new strategy for the fund’s execution in the country, with Minister Vítor Borges saying that the Mozambican government would continue to focus on the agriculture and fisheries sectors, areas in which IFAD has provided the most funding.
The Mozambican government’s five-year plan considers the agriculture sector, which involves around half of Mozambique’s population of some 20 million, to be the basis of the country’s economy.
Borges gave assurances that over the next few years the Mozambican authorities would focus on these two areas funded by the UN with a view to, “increasing current levels of productivity, which remain much lower due to limited use of agricultural machinery, insufficient coverage of extension services and low literacy levels.”
The minister said that artisanal fishing was one of the target areas for investment as it was the bases for sustenance of many families and a sub-sector that provided 85 percent of the fish consumed in the country.
The seminar for evaluation of execution of the IFAD brought together UN agency, Mozambican government and central bank officials. (macauhub)