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UK commits £64M to projects in Mozambique

The government of the United Kingdom has pledged to provide 64 million pounds to finance projects in Mozambique to support the agricultural sector, to increase access to electricity and the economic empowerment of women, according to a statement from the British High Commission in Mozambique.

The UK’s commitment to Mozambique, made during the UK-Africa Investment Summit, includes part of the 200 million pounds earmarked for Southern Africa to reduce trade barriers and increase investment.

The statement issued in Maputo said that 2 million pounds will be applied to the “significant expansion of activities related to the economic empowerment of women,” and added that similar actions would be carried out in other African countries.

To increase access to domestic and commercial electricity, through innovation and investment from the private sector, the United Kingdom announced another new programme for Mozambique, budgeted at approximately 22 million pounds.

Another 40 million pounds will be provided to Mozambique “to expand support for the agricultural sector over the next five years.”

“The funding will improve the involvement of the private sector in selected areas of agriculture to promote greater climate resistance, in addition to stimulating growth in this sector and the transformation of the economy of Mozambique,” said the statement from the British High Commission.

The UK-Africa Investment Summit brought together more than 1,000 people, including Heads of State and Ministers of African governments, chief executives and representatives of African and British companies, institutional investors, international organisations, financial institutions and civil society.

Source: Macauhub

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