africa Agriculture Banking development Infrastructure Mozambique

AfDB announces Mozambique new strategy, focus on agriculture and infrastructure

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The African Development Bank (AfDB) will implement a new strategy to support Mozambique focused on agriculture and infrastructure, the Mozambican press reported on Tuesday.

 

“It will be a strategy to boost Mozambique’s rural development, create jobs and diversify the economy,” said the country’s representative, Pietro Toigo.

Toigo said that the investment in infrastructure is intended to allow the country to capitalise on the development of the extractive sector, which will enter a new phase with the exploration of natural gas in the Rovuma basin.

The AfDB has funded the construction of 800 kilometres of roads in recent years and of 1,350 kilometers of electric power lines to support infrastructure development in the country.

Over the last 40 years, the AfDB has paid out US$2 billion (€1.7 billion) to Mozambique to finance 100 infrastructure projects.

Source: Lusa via Club Of Mozambique

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