Germany provides Mozambique with funding of 28.5 million euros

3 July 2012

The German government Monday in Maputo handed over 28.5 million euros to Mozambique, in direct budgetary aid, as well as to the Programme for Integrated Development of Local Authorities and Surrounding Areas (Prodia), Mozambican daily newspaper, Notícias reported.

Of the total 9 million euros are a direct contribution to the State Budget and 4.5 million euros will finance the programme to introduce reforms to the Tax Authority and the Administrative Courts.

The remaining 15 million euros will be channelled to the Programme for Integrated Development of Local Authorities and Surrounding Areas.

During the ceremony to sign the two contracts, Mozambique’s finance minister, Manuel Chang noted that the country still had good macroeconomic indicators and that this year the economy was expected to grow 7.7 percent, at a time when inflation was under control. (macauhub)

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