African Development Bank approves US$90 million loan to Mozambique

22 September 2011

Maputo, Mozambique, 22 Sept – The African Development Bank (ADB) has approved the concession of a US$90 million loan to Mozambique to support the Mozambican State Budget and to be paid out in three annual tranches, Mozambican newspaper Notícias reported.

The newspaper added that the funding is part of the ADB-funded Programme for Public Sector Growth and Efficiency aimed at carrying out the government’s five-year programme of the Plan of Action to Reduce Poverty (PARP) and the Economic and Social Plan for 2011, 2012 and 2013.

The 2011/2013 Public Sector Growth and Efficiency Programme aims to support the government to establish conditions for economic growth and reduce poverty by improving the efficiency of the public sector, developing capital and creating jobs. (macauhub)

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