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Mozambican government and the Arab Bank for Economic Development in Africa (BADEA) signed on Tuesday in Maputo an agreement for the funding of 12.6 million U.S. dollars to fund the development of infrastructures in the southern African country.

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“As we can see, the objectives of the funding are included in the government 5-year governance plan, namely the development of human capital and water access, this is part of what the government find as the basic needs,” said the Minister of Finance and Economy, Adriano Maleiane.

The Minister added that the sectors the bank is funding are very important, so the government wants to make sure that the institutions that will implement the projects, will do their best to make sure the money provided is allocated to the objectives established.

The bank also donated 480,000 U.S. dollars for water access in southern Inhambane province.
“I would like to thank the opportunity given by the Minister to be here today for the signing of the agreement, for the building of a technical institute and water supply system,” the bank’s General Director, Abdelaziz Khelef said.

BADEA is a financial institution owned by eighteen Arab countries, which signed its Establishing Agreement in February, 1974.

BADEA and Mozambique have been cooperating in different sectors towards social and economic development for the past 10 years. Enditem

-Xinhua

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