Mozambique FinMin Max Tonela meets MCC CEO Alice Albright

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Mozambique FinMin Max Tonela meets MCC CEO Alice Albright

4:43 CAT | 14 Apr 2023

Photo: Notícias

Mozambique’s Minister of Economy and Finance, Ernesto Max Tonela, held a working meeting with the Chief Executive Officer of the Millennium Challenge Corporation, Alice Albright, in Washington on Wednesday, during which the pair addressed the process of developing the Compact II programme for Mozambique.

Alice Albright expressed satisfaction with the areas identified for Compact II, namely the promotion of investment in commercial agriculture, rural connectivity and transport, and climate change and coastal development. “The Compact will in effect be made up of interconnected pillars, although each of them has specific projects,’ she underlined.
“I would like to highlight, in particular, climate change and coastal development, which is increasingly important for the whole world, but even more pressing for countries like Mozambique, which are in the path of cyclones. I recently followed the passage of Cyclone Freddy through Mozambique, lamenting the loss of human lives,” Albright said.

Albright said she understood that preserving mangroves and supporting fishing activities in an integrated manner “is a lucid approach from the point of view of promoting the development of communities. In fact, the Government of Mozambique is working with two specialized partners in this field, namely BIOFUND and PROAZUL”.

For his part, Max Tonela said that Mozambique would continue to work on the Compact II development process, with the signing of a financing agreement estimated at around US$500 million scheduled for August this year.

“We are duly preparing ourselves so that issues relating to social and environmental safeguards are rigorously attended to, placing the rights of women and girls, in particular, at the forefront of our attention,” Tonela said.
“In this process, we are benefiting from the experiences of Compact I and our engagement in other development programmes,” the minister added.

Mozambique implemented Compact I between 2008 and 2013, with the provinces of Zambézia and Nampula as primary geographical focuses. For Compact II, the province of Zambézia will be in the spotlight, although the developmental initiative is of national scope in the political and institutional reforms it envisages.

Source: Carta de Moçambique