World Bank signs trilateral agreement with Mozambique and Brazil

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World Bank signs trilateral agreement with Mozambique and Brazil

10:06 CAT | 14 May 2017

The World Bank has signed a trilateral agreement that will help Mozambique replicate developmental successes of Brazil.

The cooperation will also boost Brazilian investments in Mozambique.

Over the last two years around 200 million US dollars has been invested in Mozambique by the World Bank in the areas of natural resources, the environment and rural development.

According to the World Bank’s Mozambique country director, Mark Lundell, speaking on Thursday after the signing of a trilateral agreement between the Bank, and the Mozambican and Brazilian governments, his institution will continue to bet on investments in natural resources, since he believes they are vital for job creation.

“Natural resources are the areas which provide an opportunity to generate more productivity for the rural population, more employment in the area of agro-business, and a strong capacity to overcome the deficits on the Mozambican domestic market”, he said. “This will also increase the well-being of the Mozambican rural population”

Lundell added that Mozambique could learn from countless experiences of Brazil in rural development and environmental management. “We think that the experiences of Brazil are interesting for Mozambique in terms of micro-climates, the structure of production and forests. These are all areas they have in common”.

At the ceremony, the Brazilian Foreign Minister, Aloysio Ferreira, said that his government has been following with great interest the economic situation in Mozambique, and wants Brazilian business people to invest in Mozambique.

“Our businesses are working on opportunities to diversify our trade, and to guarantee more Brazilian investment in Mozambique”, he declared.

Source: Footprint to Africa