The World Bank will support the Mozambican State Budget with funding of US$110 million to be invested in poverty reduction programmes under an agreement signed Thursday in Maputo.
The Minister of Planning and Development, Aiuba Cuereneia, expressed satisfaction with the support of the World Bank and gave assurances that funding would allow the agenda to improve the business climate to continue in order to development the financial and combat poverty.
“In the last five years, the World Bank has financed our economy with approximately two billion dollars, of which about US$525 million for direct budget support and the remainder to projects in the water and sanitation sectors, roads, energy production and higher education and professional technical education,” Cuereneia said, cited by Mozambican news agency AIM.
The resident representative of the World Bank, Mark Lundell, announced that half of the funding, US$55 million, would be a donation to Mozambique and added that the World Bank intends to support the reforms already agreed with the Mozambican government.
At the same time, a second agreement worth US$40 million was signed, a donation to Mozambique to finance the Moz-Bio project, which aims to increase the efficiency of management of protected areas and improve the living conditions of communities living around these areas.
In addition to the US$40 million donated by the World Bank, Moz-Bio has over US$6.3 million that were donated by the Global Environment Facility (GEF). (macauhub/MZ)