Mozambique: Credit to the economy hit one-year-high in September
World Bank executive director pays 2-day working visit to Mozambique
11:05 CAT | 24 Jul 2017
Twitter (File photo) / Andrew Ndaamunhu Bvumbe, seen here during a visit to Kampala, Uganda
World Bank Executive Director for Africa Group 1 Constituency (AFG1) Andrew Bvumbe is paying a working visit to Mozambique today and tomorrow to assess cooperation with the country, the agency has said in a statement.
Bvumbe will visit enterprises that have benefited from the bank’s support, such as the Corrumana Dam, the Ressano Garcia natural gas-fired power plant and Maputo Reserve.
Bvumbe has meetings scheduled with the Mozambican president, Filipe Nyusi, as well as the Prime Minister, Agostinho do Rosário, the Minister of Economy and Finance, Adriano Maleiane, and the Minister of Agriculture, José Pacheco.
The members of the Board of Governors of the World Bank delegate specific functions to 25 executive directors, who in turn make decisions about country assistance.
Andrew Bvumbe is from neighbouring Zimbabwe, where he was head of aid and debt management at the Ministry of Finance before joining the World Bank.
In March, the World Bank representative in Mozambique, Mark Lundell, announced that the institution hoped to resume support to the Mozambican state budget, expected to total around US$2billion (about EUR 1.9 billion), this year.
Direct budget support was suspended in 2016 following the discovery of US$2billion of hidden state-guaranteed debt, still under investigation.
- The Office of the Executive Director (EDS14), known as Africa Group 1 Constituency, represents Botswana, Burundi, Eritrea, Ethiopia, The Gambia, Kenya, Lesotho, Liberia, Malawi, Mozambique, Namibia, Rwanda, Seychelles, Sierra Leone, Somalia, South Sudan, Sudan, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe.
Source: Lusa / worldbank.org
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