Reuters: AfDB to treble financial support to Mozambique to US$1.7B

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The African Development Bank (AfDB) said on Monday it planned to triple its financial support to Mozambique to $1.7 billion, to assist the resource-rich southern African nation hard hit by the slump in commodity prices.

President of African Development Bank Akinwumi Adesina
President of African Development Bank Akinwumi Adesina

“We are planning to increase our level of financial support to Mozambique to $1.7 billion from the year 2016-17″, the bank’s president Akinwumi Ayodeji Adesina said after meeting with Mozambique president Filipe Nyusi.

Source: Reuters