Mozambique takes on loans from the World Bank

15 April 2016

The government of Mozambique has contracted a loan of US$10 million from the World Bank to implement reforms under the Accelerated Programme for Economic Integration (APEI), according to a statement from the Ministry of Economy and Finance.

This loan was signed in Washington on the sidelines of the spring meetings of the International Monetary Fund (IMF) and the World Bank, where Mozambique is represented by a delegation led by the Minister of Economy and Finance, Adriano Maleiane.

The Mozambican delegation also includes the governor of the Bank of Mozambique, Ernesto Gove, as alternate governor of Mozambique in the IMF and the World Bank and senior officials of the two institutions.

Meanwhile, Mozambique has requested another loan of US$120 million from the World Bank to finance projects to adapt to climate change in 20 municipalities, according to the Director of Public Works, Housing and Water Resources of Sofala province.

Manuel Fobra told Radio Mozambique that the project entitled “Cities and Climate Change” includes the construction and digging of new drainage ditches, coastal protection and resettlement of people living in risk areas. (macauhub/MZ)