Arab bank analyses funding of rural electricity project in Mozambique

10 July 2012

The Arab Bank for Economic Development of Africa (BADEA) is analysing a funding proposal for the rural electrification programme to be implemented in Mozambique’s Niassa province, the bank’s director-general, Abdelaziz Khelef said Monday in Maputo.

According to Mozambican daily newspaper Notícias Khelef, who is currently visiting Mozambique, gave no details about the amount of funding involved, but noted that it would depend on the evaluation work that was underway.

BADEA funds a variety of initiatives in the economic and social sectors in Mozambique, notably the agriculture, health, and rural electricity sectors.

At the end of June, BADEA’0s financial assistance to Mozambique totalled US$228 million to carry out 31 development projects and 14 technical assistance operations.

Including all Arab institutions operating in Mozambique, namely the Islamic Development fund, the Saudi Arabian Development Fund, the Kuwaiti Fund, and the OPEC Fund, funding totals almost US$600 million. (macauhub)