'Hidden debts': Mozambique gov't is “checking position” of Russia's VTB bank
Francisco Ferreira. Photo: O País
Mozambican authorities say that everything is in place for the start of the largest fundraising event ever held in the country, in the hope of raising more than US$3billion to rebuild the cyclone-devastated areas in the centre and norther of the country.
Around 100 participants have already confirmed their presence at the event, which President Filipe Nyusi will also attend.
The two-day event will cost about 12 million meticais [around US$191,000 at current exchange rates] to host. It looks like a lot of money, but head of the Post-Cyclone Reconstruction Office and former Deputy Minister of Public Works and Housing Francisco Pereira notes that Beira lacks almost everything needed to host this type of meeting.
“This money will be spent on accommodation, food, transportation, printing and translators,” he said.
Regarding the management of the funds donated, Pereira guarantees that diversion of funds will be impossible, since the Office will be subject to international auditing every year of the project’s implementation.
The post-cyclone reconstruction plan provides for the transfer of some state infrastructure and comprises about 100 socio-economic projects, the selection of which will be based on priorities.
The government survey of reconstruction needs in social, productive and other essential sectors affected by the cyclones will be submitted to donors during next week’s conference.
By Edson AranteSource: O País