Bank of Mozambique notifies Frelimo veteran and chairperson of Social Security Institute
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A total of 25 Mozambican projects, budgeted at US$1.4 billion dollars (1.1 billion Euros) are competing for funding and will be analysed at the Africa Investment Forum, which starts today in Johannesburg in South Africa.
“The funding will depend on the strength and quality of the 25 projects, but we are optimistic,” resident representative of the African Development Bank (AfDB) in Mozambique Pietro Toigo told a question and answer session held in Maputo in September.
The projects, chosen through the Office of Business Support of the Confederation of Economic Associations of Mozambique, are in areas such as education, tourism, energy, agriculture and infrastructure.
The AfDB expects to have more than 100 projects from African countries at the Africa Investment Forum, totalling US$50 billion.
The AfDB is the main organiser of this event, which is supported by the five largest development banks in the world, including the European Investment Bank and the African Export and Import Bank (Afreximbank), as well as the Portuguese Society for Development Financing (SOFID) and various sovereign wealth and pension funds.
During the forum, which runs from today to Friday in Sandton, the AfDB, Portugal and the Organisation of Portuguese-Speaking African Countries (PALOP) are to sign a financial agreement aimed at promoting privately led economic development in Africa.
The multilateral initiative will become operational on January 1, 2019 and aims to “accelerate the inclusive, sustainable and diversified growth of the private sector in the PALOP, which should enhance the instruments that AfDB, Portugal and other partners have at their disposal,” Toigo said.Source: Lusa