Mozambique: Chinese company presents metal recycling industrial park project
Mozambique: Ceremony for project to relaunch businesses postponed
2:47 CAT | 28 Nov 2024
File photo: Banco de Moçambique
The launch of a program aimed at financing small, medium and large companies in the provinces of Inhambane, Gaza, Sofala and Manica, initially scheduled for this week, has been postponed.
According to Apogeu Siniquinha, specialist in subsidies for the ‘Access to Finance and Economic Opportunities Project – Mais Oportunidades’ project, the postponement is due to the current situation in the country which mitigates against organizing the launch ceremony, which was to have taken place in the province of Inhambane.
The project is a government initiative with financial support from the World Bank totalling US$17 million.
In the four provinces covered by the program, the relaunch of at least 100 companies in the tourism, agribusiness and civil construction sectors will be financed, mainly those affected by cyclones and storms that devastated the country.
During the five years of the project, US$500,000 to US$700,000 will be disbursed for large companies, and up to US$250,000 for small and medium-sized companies, as long as the candidates are duly registered and licensed in Mozambique, and have organized accounting, tax status and a business plan.
READ: Mozambique: World Bank loan for access to finance and economic opportunities
Source: Notícias
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