Mozambique: Foreign debt stands at US$10.6 billion - official
TVM / Deputy Minister of Culture and TourismAna Comoana
The government has approved the creation of a disaster management fund to facilitate responses to the natural calamities that cyclically affect Mozambique, such as the recent cyclone Dineo which devastated the provinces of Inhambane and Gaza.
Speaking after the Council of Ministers meeting yesterday, government spokeswoman Ana Comoana did not specify the amount which would be channelled into the fund, but did reveal that it would be managed by the INGC, the National Institute of Disaster Management .
The beneficiaries of the fund will be public sectors in the affected areas such as education, health and social action . The fund will also benefit local governments and national non-governmental organisations in situations of imminent risk.
Comoana said the fund aimed to boost state readiness in the face of calamitous events.
Four financing agreements validated
The Council of Ministers also approved the resolution ratifying the donations agreement signed on July 17 of this year between the Mozambican government and the World Bank’s International Development Association and covering US$62 million to finance national statistics and development data collection.
It also approved the resolution ratifying the US$59 million loan agreement signed on 13 July between the Mozambican government and the IDA for funding for education projects and US$10 million for social protection projects.
A fourth loan agreement validated was signed on 18 May 2016 in Jakarta (Indonesia) between the government and the Arab Bank for Economic Development in Africa for US$10 million to finance the construction of Department of Geology and a Faculty of Sciences administration building on the Eduardo Mondlane University campus.Source: O País