Portuguese fund supports SMEs in Mozambique affected by natural disasters

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Portuguese fund supports SMEs in Mozambique affected by natural disasters

9:06 CAT | 21 Jan 2020

Photo: Presidency of Portugal

Investimoz, a Portuguese fund to support investment in Mozambique, has set up two credit lines in the amount of €15 million for small and medium-sized enterprises (SMEs) in Mozambique that have been affected by natural disasters, at a ceremony held last Thursday in Maputo.

The protocol was signed by the Sofid – Sociedade Financeira de Apoio ao Desenvolvimento, the Investimoz management entity, and two banks in Mozambique, including Banco Comercial e de Investimentos (BCI), represented by the coordinator of the Executive Committee, José Furtado.

The BCI, the Cooperation and Language Institute, the Institute for the Promotion of Small and Medium-sized Enterprises (Ipeme) and the AMB in 2015 signed a contract to provide financial support, which established the terms and conditions of the financial support to be provided by the Portuguese Cooperation Enterprise Fund (Fecop) and which planned to lend to micro, small and medium-sized enterprises, associations and cooperatives in various sectors.

Source: Macauhub