Mozambique: Chapo discusses budget support with World Bank

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Mozambique: Chapo discusses budget support with World Bank

12:05 CAT | 30 Oct 2025

All photos: presidency of the Republic of Mozambique

Mozambican President Daniel Chapo has announced that he is working with the World Bank to consolidate the resumption of financial support for the State Budget.

According to the President, who was speaking to reporters, during the fourth day of his working visit to the USA, the resumption of direct support to the State Budget will make it easier for new projects in various sectors.

“We also talked about Mozambique’s development processes, such as the return to financing the State Budget. At this moment, we are also working day and night to get the new programme with the IMF approved”, he said, minutes after a working meeting held with Ajay Banga, the chairperson of the World Bank.

“If approved, the new programme with the IMF will serve as a basis for the World Bank to continue supporting the Mozambican state”, he added.

During the meeting, Chapo said, Banga made recommendations, especially regarding reforms related to the State Budget, public expenditure, and the broadening of the tax base, claiming that “these aspects are important for the Mozambican state to collect more revenue.”

Chapo also addressed the digitalization of state services, something he regarded as extremely important to guarantee transparency, good governance, and the fight against corruption.

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“But we also talked about the priority sectors of development that we have, such as tourism, infrastructure, energy, and industrialization, as well as the development of transport corridors, technology transfer, especially for young people, and agro-processing in rural areas”, he said.

For his part, the World Bank chairperson said he is forging a new partnership model with Mozambique, which aims to “emphasize the creation of quality of life and jobs for people, especially in agricultural investments and infrastructure, including in Mozambique’s three development corridors.”

Also on Wednesday, Chapo visited the ExxonMobil Campus, where he highlighted the strategic gains of cooperation between Mozambique and this oil and gas company.

“It is crucial that Mozambique benefits from its experience and technology, especially to train young Mozambicans capable of leading the exploration and management of our energy resources in the future”, he said.

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ExxonMobil is leading the construction and operation of future natural gas liquefaction and related facilities for the Area 4 deep water block off the northern Cabo Delgado coast. The project is operated by Mozambique Rovuma Venture (MRV), a joint venture owned by ExxonMobil, the Italian energy company ENI, and CNPC of China.

“The project will stimulate growth of small and medium-sized national companies, which will supply goods and services to multinational companies in the sector. We are talking about approximately 40,000 to 50,000 workers during the construction phase of these projects. This means more taxes, more income, and greater economic dynamism in our country”, the President said.

Source: AIM