The United States federal government has approved a new funding programme for Mozambique for five years which aims to reduce poverty through specific investments that drive economic growth, said the Millennium Challenge Corporation (MCC).
“I am pleased to announce a new partnership with Mozambique for a new funding programme,” said the chief executive of the MCC, Sean Cairncross, in a statement on the MCC website.
MCC is a programme of the U.S. government that provides subsidies to developing countries for a specific period and which meet strict standards of “good governance” ranging from the fight against corruption to respecting for human rights.
Mozambique successfully completed its first MCC compact in September 2013 and has recently shown political improvements in its performance indicator, according to the statement published in Washington.
In the first programme, Mozambique received US$507 million, which was applied in various projects. (macauhub)