Mozambique: Banks cut benchmark interest rate to 18% in May
Donors’ disbursements for post-cyclone public infrastructure reconstruction to start in August – Machatine
3:39 CAT | 11 Jul 2019
File photo: Lusa
International partners will begin disbursing funds for the reconstruction of public infrastructure destroyed by cyclones Idai and Kenneth in August, according to the Ministry of Public Works, Housing and Water Resources.
“The Government and partners are already surveying sector priorities for the reconstruction of state infrastructure devastated by the passage of cyclones Idai and Kenneth,” João Machatine, Minister of Public Works and Water Resources, has announced.
After this inventory, he continued, donors would start channelling the US$1.2 billion pledged at a donor conference in May.
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Noting that the total cost of the reconstruction of infrastructure destroyed by the cyclones has been set at US$3.2 billion (EUR 2.8 billion), Minister Machatine said that the government was making every effort to mobilise the remaining amount, needed to cover the deficit resulting from the commitments made at the donor conference in May.
Cyclone Idai hit central Mozambique in March, causing 604 deaths and affecting about 1.8 million people. Shortly afterwards, Cyclone Kenneth hit the north of the country, killing 45 people and affecting a further 250,000.
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Source: Lusa
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