The World Bank is available to help the Mozambican government to ensure that its wealth of natural resources “is a blessing” said the World Bank vice president for the Economic Sector, Otaviano Canuto.
Cited by Mozambican news agency AIM, Canuto noted that this would only be possible if Mozambique was able to manage public investments internally.
“Mozambique has good macroeconomic management capacity, which is an essential condition for preparing to face the challenges and opportunities typically faced by countries with a wealth of natural resources. We are available to help, to boost our partnerships, because Mozambique is an important partner for the World Bank,” he said.
He also noted that the support consisted of, “working on training to create capacity to analyse projects, to manage public investments, because when all is said and done an abundance of resources will be a blessing according to the extent to which the country creates internal capacity for its management.”
Canuto arrived in Mozambique last Sunday on a working visit to assess the progress of projects funded by the World Bank.
There are currently 18 projects underway in Mozambique in several sectors worth around US$800 million with funding from the World Bank.
Three projects are scheduled for 2013 worth an estimated US$290 million. These projects will expand the water distribution system in Maputo (US$110 million), fund coastal subsistence (US$30 million), and the finance third phase of management and maintenance of roads and bridges (US$150 million).
Mozambique has worked with the World Bank since 1984 and the country has benefited from funding of US$3.6 billion since then. (macauhub)