Mozambique: Magistrates propose financial independence law
World Bank holds public consultations to review 2023-2027 strategy for Mozambique
5:13 CAT | 25 May 2022
File photo: Lusa
The World Bank has announced the launch of public consultations to review its operational strategy for Mozambique for the 2023-2027 period, the banking institution announced in a statement issued on Tuesday (24-05).
“The consultations include meetings at government level, with development partners and civil society organisations,” among others, and will help define “the composition and volume of investments, as well as the indicative package of reforms”, the World Bank announces.
The strategy will also include institutional training programs, technical assistance and analytical studies.
The total investment portfolio of the International Development Association (IDA), the banks’ financing arm for Mozambique, amounts to US$4.1 billion (€3.8 million) in national projects and US$1 billion (€930 million) in regional projects, the statement reveals.
“Preparing the strategy involves reviewing lessons from the implementation of the previous strategy; alignment with the country’s own priorities defined in its strategies; and a review of the Bank’s corporate priorities. The strategy is informed by relevant World Bank studies and reports, notably the Systematic Country Diagnostic, among other documents,” it continues.
“The public consultations aim: to obtain input on the objectives stated in the draft strategy to be discussed at the consultation meetings; collect contributions to deepen the subcomponents of each objective; improve the focus and responsiveness of the Bank’s new emerging portfolio to country-specific development challenges; and better define the financing portfolio and other areas of country support,” the paper concludes
The World Bank considers Mozambican public debt “sustainable” thanks to the prospects for gas exports, although pressures on the country’s economy remain high. It advocates a “structural transformation” to generate greater economic growth and job creation.
These positions are contained in a document called a ‘Country Partnership Framework’, to which Lusa had access on Monday, and which is part of a batch of working documents preparing the forthcoming years’ cooperation.
ALSO READ: Mozambique: Debt ‘sustainable’ – World Bank
Source: Lusa / World Bank in Mozambique
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