China to provide US$15 million to Mozambique for distance learning projects

11 August 2011

Beijing, China, 11 Aug – China plans to provide around US$15 million in the form of a donation and a no-interest loan to fund technical cooperation with Mozambique, the Mozambican Finance Minister, Manuel Chang said Wednesday in Beijing.

The agreements to make the funding official were signed at the end of official talks between President Armando Guebeza and his Chinese counterpart Hu Jintao at the Palace of the People, in Beijing, and the funding will focus on the areas of distance learning and science and technology.

The two sides also signed a cooperation deal to promote small and medium-sized companies, the value of which has yet to be set, although a financial institution is due soon to be named to channel the funds to be provided to Mozambique for this sector.

A framework agreement was also signed for financial cooperation with the China Development Bank, without establishing amounts, as well as notes being exchanged on projects to drill two boreholes, technical assistance for installation of a workshop for the buses donated by China to Mozambique as well as a study on construction of five professional schools.

Under the terms of another memorandum a Chinese-Mozambican centre for poverty relief will be set up in Mozambique in partnership with the Kingho Group.

Cited by Mozambican daily newspaper, Notícias, Finance Minister ;Manuel Chang said that the China Exim Bank was also assessing funding for projects, some of which of a commercial nature, notably construction of the Maputo-Catembe bridge. (macauhub)

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