World Bank approves funding for agricultural project in Mozambique

1 July 2016

The World Bank has approved a loan of US$40 million, 26 million of which in the form of a donation for an agriculture and management of natural resources and landscapes project in Mozambique, the institution said in a statement.

The statement, issued Thursday in Washington, says that this funding is intended to contribute to the sustainability of natural resources as well as to improve the living conditions of rural households in Mozambique.

Through the project, more than 20,000 households, particularly headed by women, will benefit directly from increased access to markets, new technologies and mechanisation, means of production and infrastructure, as well as land titles (individual and collective), as well as providing improved access to finance and value chains.

The statement noted that the vast natural capital of Mozambique includes about 36 million hectares of arable land and 40 million hectares of natural forests, but added that natural resources are being rapidly depleted with the annual loss of 220,000 hectares of natural forest and erosion that is felt across the country. (macauhub/MZ)