Kuwaiti fund to support training in agrarian sciences in Mozambique

21 November 2011

Maputo, Mozambique, 21 Nov – The Kuwait Fund plans to provide US$5 million to fund the repair and construction of The Higher Polytechnic Institutes of Agrarian Sciences of Gaza and Manica, in south and central Mozambique, respectively, Mozambican news agency AIM reported.

The agreement signed by the Mozambican Finance Minister, Manuel Chang and by the assistant director-general of the Kuwait Fund, Hamad Al Omar complements another agreement signed in 2006 worth US$8.7 million.

This new funding has a 20-year maturity, including a four-year non-payment period and an interest rate of 1 percent per year.

Noting that cooperation between Mozambique and the Kuwait Fund began in 1982, Minister Manuel Chang noted that since then the fund had provided US$74 million for infrastructure projects such as schools, hospitals, roads and refurbishment of the Xinavane sugar factory, agri-industry and telecommunications, amongst other projects. (macauhub)