Mozambique re-elected for MCC ‘Compact II’

Login

Register

http://www.clubofmozambique.com/

Mozambique re-elected for MCC ‘Compact II’

10:59 CAT | 18 Jan 2023

in file CoM

The Board of Directors of the Millennium Challenge Corporation (MCC) has endorsed Mozambique’s continued involvement in developing the ‘Compact II’ programme.

According to a statement from the Presidency of the Republic, the decision testifies to “the vitality of the partnership that Mozambique and the MCC have created over the years, and highlights the progress that has been registered in strengthening economic policies and investment that focus on the population”.

The Compact II program establishes assistance for the development of rural infrastructure, such as roads, programmes to support agriculture, the creation of conditions for the resilience of coastal populations through the protection and recovery of ecosystems and the replacement of the mangrove forest in the province of Zambezia, and the possibility of supporting other infrastructures for development such as the National Highway Number One (N1), as well as institutional reform and national policies.

On the sidelines of Mozambique’s participation in the COP 27 conference in Sharm El Sheikh, President Nyusi met Alice Albright, president of the MCC Executive Committee, and agreed there was satisfactory progress in the preparation of Compact II.

“The Government of Mozambique remains committed to the reform process” with a view to “combating corruption, deepening the rule of law and observing the fundamental rights of citizens,” the Presidency communique reads, adding that the government and the MCC are committed to deepening their partnership in striving for “an ambitious, innovative and transformative Compact programme”.

The country has already benefited from a first MCC financing programme, completed in 2013, during which it received US$507 million.

The Millennium Challenge Corporation is an independent US government development agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants that pair investments in infrastructure with policy and institutional reforms to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.

Source: Diario Economico