Mozambique takes on new loan from Exim Bank of China

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Mozambique takes on new loan from Exim Bank of China

10:10 CAT | 02 Feb 2016

Macauhub

Mozambique has taken on a loan of about US$150 million from the Export-Import Bank (ExIm) of China to finance technical and scientific research in 2016, Mozambican daily newspaper Correio da Manha reported.

The loan will be taken on by the government’s National Science and Technology Park (ENPCT), whose revenues in the first half of 2015 only covered 5 percent of expenditure, said the newspaper citing a government source.

The Export Import Bank (ExIm) of China has loaned hundreds of millions of dollars to Mozambique to finance construction of both the Maputo Circular and the Maputo/Catembe bridge.

These two projects were awarded to the China Road and Bridge Corporation (CRBC), and the Maputo/Catembe bridge is part of a project that includes roads to connect the southernmost area of Maputo province, with a final estimated cost of US$785 million.

With the completion of the bridge and associated road network, it will be possible to travel by road between the north and south of the country, “from the Rovuma to Ponta do Ouro” and connect to the road network of the South African region of Durban.

Source: Macauhub