South Korea lends Mozambique US$25 million

11 December 2014

South Korea has granted Mozambique an additional loan of US$25 million for construction of Quelimane Central Hospital in the central province of Zambezia, following an agreement signed Wednesday in Maputo.

The cost construction of the hospital, with 600 beds and work on which began in 2013, is currently estimated at US$56 million, according to Mozambican news agency AIM.

In November 2010, the government of Mozambique borrowed US$94 million from the Export-Import Bank of South Korea.

At the time, government spokesman Alberto Nkutumula said that of that amount US$ 49 million was earmarked for connecting seven administrative posts in Gaza province to the electricity grid and the remaining US$45 million would be used to build Quelimane Central Hospital from scratch. (macauhub/MZ)