ADB donates US$29.36 million to Mozambique

24 September 2014

The African Development Bank (ADB) has approved a donation of US$29.36 million to support the first phase of the Inclusive Growth and Economic Governance (PCIGE) programme’s first phase, the bank said in a statement issued Monday.

In the statement, the ADB said that the budget approved by the board of directors was the first instalment of a financial package of US$59.73 million earmarked for the Mozambique State Budget (OGE) in 2014, 2015 and 2016.

“The PCIGE underlines the fact that Mozambique needs to translate the high rates of economic growth experienced in the last two decades into inclusive and sustainable dividends,” said the statement from the ADB. (macauhub/MZ)