Bank of Mozambique maintains benchmark rate at 27.75 percent
Mozambique, in coordination with the National Development and Reform Commission of China, is in an advanced process of evaluating priority projects already selected for further financing in the areas of infrastructure, energy, transport, agriculture and industrial parks, among others, the Mozambican ambassador to China has said.
Aires Ali said in an interview published in the summer issue of the Forum Macau magazine that Mozambique is open to receiving Chinese funding either in commercial form, through public-private partnerships or in the form of donations.
The Mozambican ambassador also considered that the People’s Republic of China is a strategic partner for Mozambique’s development process, particularly in infrastructure and energy projects, considering its experience and capacity in terms of state-of-the-art technology, resources investment and know-how.
Ali also said in the interview that China, which is a strategic partner of Mozambique, can financially support the improvement of the rail and port infrastructure of the three main development corridors (Maputo, Beira and Nacala) that allow access to the sea from land-locked countries, such as Zambia, Malawi, Zimbabwe and Swaziland.
The Mozambican diplomat also said that Mozambique plans to build new rail-port infrastructure, such as the Macese and Techobanine port project, linking Botswana, South Africa, Swaziland and Mozambique and the Beira-Machipanda rail link between Mozambique and Zimbabwe.
Aires Ali said that “it is the Government of Mozambique’s concern to mobilise resources to improve the existing infrastructure in these corridors to respond to new demand resulting from its intensive use in the transport and handling of a variety of cargo, which includes the export of products from new discoveries in Mozambique, namely coal and gas, among others, and the import of a variety of consumer goods and for the development of industry in Mozambique and hinterland countries.”
“As you can see, these are projects that require a lot of funding and, once again, China as a strategic partner of Mozambique is taking in them,” he said.
The ambassador said that there are encouraging results of Sino-Mozambican cooperation in rice production in Gaza Province (Wanbao Project in Xai-xai and the Chókwé Irrigation Area) and also revealed that there are other projects in the pipeline on rice in Sofala province and on agro-processing in Mozambique.
“Mozambique can take advantage of China’s – Belt and Road – initiative by creating industrial parks, building access roads, linking production centres and commercial and consumer centres (…) by promoting the value chain for products through the transfer of technologies and promoting employment and well-being of the Mozambican population,” he concluded.