Mozambique: A third of population have access to banking services - governor
in file CoM
The board of directors of the Millennium Challenge Corporation (MCC), a US foreign aid agency, has approved a $500-million (€458-million) programme for the Mozambique Connectivity and Coastal Resilience Compact.
The approval follows a memorandum signed with the government in January and ” reaffirms MCC’s commitment to directly tackle economic growth constraints through innovative solutions,” a statement from the Millennium Challenge Corporation quoted MCC’s Chief Executive Officer Alice Albright as saying.
The programme is to focus on the development of Zambézia province, in the centre of the southern African country.
“In Mozambique, we’re implementing MCC’s most climate-forward compact- a combination of resilient transport infrastructure, green and blue economy opportunities, and policy and institutional reforms to enable more effective and long-term growth,” Albright added.
This is MCC’s second compact with Mozambique, after another worth $506.9 million (€464 million), concluded in 2013, and which focused on water and sanitation, land tenure, transportation, and agriculture.
This time, the focus is on improving transport connectivity in rural areas, incentivizing commercial agricultural through policy and fiscal reforms, and improving coastal livelihoods through climate resilience initiatives.
The MCC is an agency funded by the US government that provides time-limited grants to less-developed countries.
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