Mozambique keeps interest rate at record low on stable inflation
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The World Bank will disburse US$100 million dollars for the implementation of the National Programme for Urban and Local Development in Mozambique, a government source has said.
The funding will benefit 64 districts in the provinces of Gaza, Sofala, Zambezia and Niassa between 2019 and 2024, a source at the Ministry of State and Public Administration was quoted on Tuesday by Radio Mozambique as saying.
The programme aims to strengthen systems of governance and institutional capacity at the local level in areas selected according to the poverty index.
“This financing is for the improvement of municipality and district governments services,” Minister of State and Public Administration Tomás Banze said.
The World Bank has supported a number of projects in Mozambique, the last of which, announced in September, consists of a US$45 million loan to support the second phase of the Mozbio Conservation and Biodiversity Development Project.
In an interview with Lusa at the weekend, Economy and Finance Minister Adriano Maleiane said that the country needed institutions such as the World Bank to support structural reforms.Source: Lusa