Mozambique: Most banks have high levels of non-performing loans
India finances 1600 water boreholes with US$32 million
2:05 CAT | 29 May 2019
File photo: O País
The 18th Ordinary Session of the Council of Ministers has considered and approved a resolution ratifying the US$32 million financing agreement between the Government of the Republic of Mozambique and the Export-Import Bank of India.
According to Cabinet session spokesman Deputy Minister of Mineral Resources and Energy, Augusto Fernando, the agreement foresees the sinking of 1,600 water boreholes in four Mozambican provinces: Zambézia, Manica, Sofala and Nampula.
The boreholes will be equipped with hand pumps and eight small water supply systems, said Augusto Fernando
According to the IV General Census of Population and Housing, the number of Mozambicans consuming non-potable water increased from 17,941,157 in 2007 to 20,412,291 in 2017.
The India credit line has a maturity of 25 years, with repayments deferred for seven years.
Source: Savana / A Verdade
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