Brazil opens up US$97 million credit line to Mozambique

27 January 2012

Brasilia, Brazil, 27 Jan – A credit line of US$97.59 million to buy agricultural machinery and equipment produced in Brazil was opened up to Mozambique in Brasilia Thursday, according to Brazilian news agency Agência Brasil.

At the same time, the Foreign Trade Chamber (Camex) of the Development, Industry and Foreign Trade Ministry also approved another loan worth US$70 million for Cuba.

The agency reported that both Mozambique and Cuba would be provided with Brazilian technical support under the terms of the More Food Programme of the Agricultural Development Ministry.

In Mozambique, for example, according to the 2007 census, there are 36 million hectares of arable land of which just 10 percent are being farmed.

The first countries to become partners of the More Food Programme were Ghana and Zimbabwe, and soon after Mozambique showed interest in the programme. (macauhub)