Mozambique: 13 external donations agreed in first nine months – worth $735.8 million

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Mozambique: 13 external donations agreed in first nine months – worth $735.8 million

7:19 CAT | 25 Nov 2024

File photo: Integrity

According to official figures, the Government of Mozambique had, up until the end of September this year, negotiated 13 agreements for external donations for various projects, worth a total of US$735.89 million (€696.4 million),

According to budget execution data for the first nine months of the year from the Ministry of Economy and Finance, “financial negotiations were carried out for 13 donation agreements” in this period, the most recent being one with the World Bank in September, worth US$170 million, for the Regional Emergency Preparedness & Access to Inclusive Recovery Project (REPAIR).

Of the agreements negotiated this year, eight, totalling US$601 million, were with the World Bank, and five, totalling US$134.89 million, with the African Development Bank (AfDB). In addition, two concessional credit agreements were signed, one with the Arab Bank for Economic Development in Africa (BADEA), worth US$20 million, to finance the “One District, One Hospital” initiative, and one with an Italian state bank, worth US$36 million, for an agri-food project in Manica province.

After a meeting in Washington with the Mozambican president on 16 April, World Bank Group president Ajay Banga highlighted Mozambique’s role as the base of the electricity market in southern Africa, promising new partnerships with the country.
“We had a good discussion about the work that is being done, the results of the economic development that Mozambique is trying to achieve, the improvement in economic growth, the improvement in inflation,” Ajay Banga told journalists. “But most importantly, we discussed the opportunity for young people and their future and how, if we invest in young people, this will become the future of the country.”

At the meeting in Washington, the two leaders discussed “the importance [of young people] for employment, and how to create jobs with assets that Mozambique is already doing a good job with, such as energy and electricity”, Banga said.

Mozambique has not only improved “access to electricity for its own population”, but “there is more to come, but it is also becoming a base for the electricity market in southern Africa, an excellent step forward”, he added.

The World Bank Group president argued that there was still “much that the government and the private sector could do together”, not only in electricity, but also “including tourism and infrastructure; everything is aligned to create jobs for the future of our world, which is the young. So I want to congratulate the president and his government for the work they are doing. I look forward to more joint partnerships”.

Source: Lusa