External funding delays Mozambique’s development
World Bank grants Mozambique US$10 million loan for trade facilitation
8:21 CAT | 15 Apr 2016
Lusa (File photo) / A view of Maputo port
The Mozambican government and the World Bank formalized yesterday in Washington, United States, a credit of US$10 million for the implementation of reforms under the Accelerated Programme for Economic Integration (APEI).
Yesterday’s signing comes a week after the World Bank board of directors approved the credit with the aim of helping the country remove barriers to trade and to improve the business environment.
Mark Lundell, World Bank director for Mozambique, Mauritius and the Seychelles, is quoted by Noticias as stating that the credit comes from the Association for International Development (IDA) and is the result of greater awareness in Mozambique that barriers continue to restrict trade in goods and services, as well as reducing the economic gains of greater regional integration
The signing preceded the spring meetings of the World Bank and the International Monetary Fund which starting today with Mozambique represented by a delegation headed by Minister of Economy and Finance, Adriano Maleiane.
Source: Notícias
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