Speaking this morning after a meeting with the country Minister of Finance Max Tonela in Maputo, the World Bank Country Director for Mozambique, Mrs. Idah Pswarayi-Riddihough reaffirmed the Bank’s commitment to Mozambique.
Just a couple of days after the IMF announced their budget support to the country, Mrs. Pswarayi-Riddihough made remarks indicating that the World Bank will also be providing budget support to the government. A US$300M disbursement is expected to be approved by the Bank’s board by the end of next June.
There are also 2 other tranches under discussion for 2023 and 2024 for which the amounts are not set and are dependent on the reforms the Government will introduce.
The World Bank is in the process of finalizing its engagement direction with Mozambique which will define the country’s partnership framework and will pave the way for a joint agreement with the government and other development partners including the IFC and MIGA.
Also read: Mozambique reports on impact of COVID funds
Mrs. Pswarayi-Riddihough thanked the Government and acknowledged their focus in a number of reforms, highlighting their current drive towards transparency, governance and attention to the most vulnerable part of the population.