Mozambique to benefit from India’s $10bn concessional credit for Africa

India will fund water holes in the Mozambique’s drought-affected regions as part of ongoing cooperation between the two countries, a top government official said on Thursday.

India’s Prime Minister Narendra Modi said in 2016 his country will provide a concessional credit of $10 billion to Africa in the next five years, a doubling of its existing commitment and grant assistance of $600 million, before he urged the continent’s leaders to speak in “one voice” with it in pushing for UN reform and combating climate change and the threat of terrorism.

According to Belmiro Malate, the Mozambican Director for Asia and Oceania (DAO) at the Ministry of Foreign Affairs and Cooperation (MINEC), agreements between the two countries for the implementation of this project is soon to be signed.

“The project has already been approved by the Indian Government and we are currently waiting for the signing of the agreements to pass the implementation phase. With this agreement is intended to open water wells in some areas that were affected by the drought last year, “he said.

Malate said the India funding could be used to invest in areas considered a priority by the government, such as agriculture, energy, infrastructure and others.

He said during the meeting between the Prime Minister and the High Commissioner, they discussed issues associated with maritime safety along the Mozambican coast and the commander of the Indian navy is expected to visit Mozambique, where the respective agreements will be signed.

On maritime security, India would work to support Africa, as appropriate, in the implementation of the AU 2050 Africa’s Integrated Maritime (AIM) Strategy in accordance with International Maritime Law.

Source: Journal du Cameroun

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