Arab Bank grants loan to Mozambique

10 June 2015

The Arab Bank for Economic Development in Africa (BADEA) will provide a loan of US$13 million to Mozambique for water supply projects, under an agreement signed Tuesday in Maputo, the local press reported.

The agreement was signed by the Minister for the Economy and Finance, Adriano Maleane, and the Director General of BADEA, Addelaziz Khalef, at an event held on the sidelines of the 10th Global Forum of the Islamic Development Bank, held in Maputo.

Maleane reported that BADEA has donated about US$500,000 for technical training of the group that will work directly on the implementation of the project in Inhambane province.

BADEA has funded projects in Mozambique after independence estimated at more than US$800 million, such as electrification of the province of Cabo Delgado, coastal protection projects in Maputo and a hospital in Matola, on the outskirts of the capital. (macauhub/MZ)