Germany will grant a loan of 29 million euros to Mozambique to support projects aimed at improving the electricity supply in the country, state power company Electricidade de Moçambique (EdM) said Monday in a statement.
EdM also said that of that amount, 20 million euros would be invested in the Mozambique/Malawi power transmission line and the remaining 9 million euros would finance the state’s short-term investment plan.
The loan will be granted by German state-owned development bank Kreditanstalt für Wiederaufbau (KfW), according to the information released.
Mozambique currently has an estimated power generation capacity of 2,200 megawatts, produced mostly by the Cahora Bassa hydroelectric facility.
Most of the electricity produced there is exported, particularly to South Africa and to a lesser extent to other neighbouring countries. (macauhub/MZ)