Mozambique expects 26.6% increase in rail traffic in 2025
United Kingdom support not allocated to particular countries
12:11 CAT | 23 Apr 2018
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The United Kingdom said on Friday it had doubled its support for British exports to the Commonwealth, but did not allocate specific amounts to particular countries, Lusa has learned.
The Mozambican presidency website had announced on Thursday that the UK had made available two billion pounds (2.9 billion Euros) available to the private sector in Mozambique, an amount that would have been discussed during a meeting between the President Filipe Nyusi and the British Secretary of State for International Trade, Liam Fox.
Quizzed by Lusa on the subject, a British diplomatic source in Maputo explained that Fox and President Nyusi met on Wednesday and “during the meeting discussed opportunities in Mozambique for UK investments”.
The Secretary of State explained the UK Export Finance mechanism, “a facility to support exports by British companies”, noting that the UK “has available a guarantee fund of GBP 20 billion for this purpose.”
Fox announced that support for exports to the Commonwealth has been doubled, but “no portion of this fund is assigned solely to Mozambique, or any other country”, and that “British companies must apply under the established terms”.
On the other hand, “this support will make it easier for the Mozambican private sector to import goods and services from the United Kingdom “, he concluded.
Source: Lusa
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