ADB grants US$59 million to Mozambique

26 December 2014

The African Development Bank (ADB) has granted the government of Mozambique US$29.5 million to support the 2014 State Budget.

This is the first in a series of three annual budgetary aid operations budget that will continue until 2016, representing a total of US$59 million.

According to Mozambican daily newspaper Notícias a statement from the Mozambican Finance Ministry said the central purpose of the support was to promote inclusive growth, sustainable development and to create business and employment opportunities.

The ADB has supported the Mozambican state budget since 2000 and considers this form of aid crucial to support the country’s development. (macauhub/MZ)