Portugal and Mozambique sign 13 agreements to strengthen cooperation

4 July 2019

The Portuguese and Mozambican governments on Wednesday in Lisbon signed 13 agreements, one of which on a credit line of 400 million euros until March 2020, the Portuguese press reported.

The documents were signed at the end of the 4th Luso-Mozambican Summit in Lisbon, under the chairmanship of the Mozambican head of State, Filipe Nyusi, and the Portuguese Prime Minister, António Costa.

Portugal and Mozambique signed an amendment to the “Tripartite Agreement of 1 July 2008 on a credit line in the amount of 400 million euros between Caixa Geral de Depósitos, as a lender, the Republic of Mozambique, as the borrower, and the Portuguese Republic as guarantor.”

This agreement, according to both governments, will extend the deadline for the use of the 400 million euro credit line (signed in 2008) until March 2020, and the amount to be disbursed, 11.6 million euros, will cover the work to recover a number of roads in Mozambique.

For the reconstruction of the regions affected by cyclones in Mozambique, as had already been announced by the prime minister during the economic forum that preceded this summit, the Portuguese and Mozambican governments signed a memorandum involving about 1.5 million euros, with the fund managed by Instituto Camões.

This fund will be made up of funds from the State Budget and donations from public entities (such as municipalities) and individuals, and will finance, via a tender process, projects of non-governmental organisations and will be conducted over the next three years. (Macauhub)