Credit lines from Portugal to Mozambique remain available

15 February 2011

Maputo, Mozambique, 15 Feb – The credit lines from Portugal for Mozambique in the construction sector remain available despite the difficult situation Portugal is facing, the Portuguese minister for public works, transport and communications said Monday in Maputo.

António Mendonça noted Portugal’s efforts to honour its commitments to Mozambique in the construction sector, following a meeting with the Mozambican deputy public works and housing minister, Francisco Pereira, as part of the visit by the Portuguese minister to Mozambique.

Portugal, the minister said, had opened up two credit lines for the public works sector in Mozambique, a subsidised one, worth 400 million euros, and a commercial one, worth 300 million euros.

“The pay outs are underway, as proposals from interested companies come in. The crisis situation does not suspend the execution of these credit lines, but rather imposes greater strictness and efficiency in carrying out the projects,” said Mendonça.

In his turn, the Mozambican deputy public works and housing minister called for cooperation with Portugal to be expanded,  via involvement of Portuguese construction companies in areas thus far unexplored, such as building dams and housing, where the Portuguese companies have a good reputation.

There are around 200 Portuguese or Portuguese-owned companies operating in Mozambique, including the main companies operating in the public works sector. (macauhub)