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Monday, 21 November 2016

EU announces new financial aid to Mozambique

The European Union will support Mozambique with funding of US$740 million to the state budget over the next five years for investment in water supply, renewable energy, agriculture and job creation programmes in rural areas, said the EU ambassador to Mozambique. Sven von Burgsdorff, on a visit to Quelimane, said the resumption of European financial support, however, depends on the progress of the actions carried out by the government of Mozambique, under the recommendations of the International Monetary Fund (IMF) in relation public debt. The European ambassador, quoted by newspaper Notícias, said he was happy with the progress made in the dialogue between the Mozambican government and the IMF, a condition not only for the IMF to resume funding, but also for EU countries to resume aid to development programmes. Von Burgsdorff also said he was aware of the Mozambican government’s actions to implement macroeconomic and fiscal measures for sustainable public debt said both sides wanted to resume, “as soon as possible, support for development programmes throughout the country.”

Source: macauhub.com.mo