European Investment Bank opens credit lined for Mozambican SMEs

30 August 2016

The European Investment Bank (EIB) has opened a credit line of 30 million euros for Mozambican companies, said the Millennium bim bank in a statement issued on Monday in Maputo.

The statement said the credit line would finance 50% of the total cost of each business project submitted by micro, small and medium-sized companies in the public and private sector.

“The aim of this programme is to finance 50% of the total cost of each eligible project, from any sector of activity,” said the statement.

The scheme, the statement said, was within the scope of the Cotonou Agreement on cooperation and development aid, negotiated between Africa, Caribbean and Pacific DStates (ACP) and the European Union (EU). (macauhub/MZ)