The Government of Mozambique and the Arab Bank for Economic Development in Africa (BADEA) signed a US$20 million financing agreement on Friday, 16 October, for the construction of Angoche port in Nampula province.
The agreement was signed by Finance Minister Carla Loveira on behalf of the Mozambican government, as part of efforts to mobilise financial resources for the expansion and modernisation of public infrastructure.
The project aims to strengthen port infrastructure and improve conditions for economic activity, helping to boost trade and economic growth in the region.
The financing falls within the framework of cooperation between Mozambique and BADEA, a multilateral financial institution that supports development projects in sectors including health, education, infrastructure and rural development.
Through this agreement, the government aims to strengthen the mobilisation of external resources for projects considered priorities, with a view to improving living conditions and promoting sustainable socioeconomic development.
Source: MzNews