US$200 million to be invested in Zambezi valley in Mozambique

27 January 2012

Chimoio, Mozambique, 27 Jan – The Zambezi Valley Development Agency plans to invest over US$200 million on several projects to promote economic and social development in that region of Mozambique, Mozambican daily newspaper Notícias reported.

The projects, which are due to be carried out in the 2012-2014 period in the four provinces covered by the valley will have a preferential focus on agriculture, fishing, agricultural mechanisation, agri-processing, agri-industries, land planning and infrastructure.

Financed by the State Budget and with co-funding from a number of Mozambican and foreign cooperation partners, the projects include setting up a tractor assembly unit in Murraça, Sofala province.

The Zambezi Valley Development Agency, which operates in over 35 districts in the provinces of Manica, Sofala, Zambézia and Tete, amongst others, has the support of the Indian and Chinese Export and Import Banks, the World Bank and the governments of the Netherlands and Norway.

The director-general of the Zambezi Valley Development Agency, Roberto Albino, told Mozambican newspaper Notícias in Chimoio that the form projects already had guaranteed funding of US$5 million and those that were still on paper were under negotiation with a view to their approval and subsequent funding.

The agency aims to carry out studies and put forward strategies for the economic and social development of the region, to provide technical assistance to economic and social development initiatives, including fundraising and channelling those funds to beneficiaries, as well as assistance to local governments in the areas of planning, land planning and local social and economic development. (macauhub)