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Mozambique : AFRICAN DEVELOPMENT BANK allocates funding to MOZAMBIQUE

June 7, 2014

African Development Bank (ADB) official declared Mozambique has a credit line of about US$60 million for 2014 in Mozambique.

Joseph Ribeiro commented that the funding was basically aimed on establishment of infrastructure. Joseph added half will be provided as a donation and the other half as interest-free loans. The funding amount could be bolstered if the country lends in inter-regional projects.

According to the ADB representative, presently the bank backed 15 projects in Mozambique including road infrastructure, energy and irrigation, as well as social support and funding of the State Budget.

Ribeiro commented Mozambique s commercial debt ceiling was agreed with the International Monetary Fund (IMF) at a figure of US$1.5 billion and the country is currently below that figure, and there is room for more projects and more loans.

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Source: TendersInfo (India)

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