Public debt crisis worsened Mozambique's overall risk - Aon Consulting
The European Union (EU) has signed off on total funding to Mozambique €45 million, the Mozambican Ministry of Foreign Affairs and Cooperation (MNEC) said on Tuesday.
The aid is in the form of “non-reimbursable” support and is part of “the resources allocated by the EU to the country through the European Development Fund (EDF) for the Bilateral Cooperation Programme in the 2014-2020 period,” it added.
The funding will be channelled through four funding lines.
The figure is earmarked for the preparation of projects and institutional support to the energy sector and the programme to support public finance management.
A project to support mitigation and adaptation to climate change will also benefit, at a time when Mozambique has been affected by extreme events such as droughts and floods.
Part of the money will also be used to boost the second phase of the programme to support non-state bodies in civil society.
The EU is part of a group of donors that cancelled direct support for the Mozambican state budget after US$2 billion in hidden debts were discovered in 2016.
However, the EU continues to provide support to specific sectors.Source: Lusa
Inflation remains low in May
UN revises upward data on Mozambique, country ranked 9th least developed in the ...