OPEC’s International Development Fund approves financial aid to Mozambique

20 January 2014

The International Development Fund of the Organisation of Petroleum Exporting Countries (OPEC) has approved funding of US$209.2 million to carry out a variety of projects in Mozambique, according to the Mozambican press.

The approved funding will be channelled into development projects in Mozambique in the agricultural, energy, transport and communications, education, health and industrial sectors.

Of that amount, US$34.6 million will be used to rebuild roads to link several points in Mozambique to some of the member countries of the Southern Africa Development Community (SADC).

Following a number of projects launched in 2004 this funding will mainly improve a 119-kilometre section of road linking Mozambique to Zambia.

Since it was set up in 1976, the OPEC Fund for International Development has provided US$14.1 billion for social and economic development programmes in developing nations, including Mozambique. (macauhub)