The Islamic Development Bank (IDB) has invested about 300 million U.S. dollars in social and economic areas in Mozambique, since the country joined the financial institution in 1995, according to Mozambican finance and economic minister Adriano Maleiane.

The state news agency AIM quoted Maleiane as saying that 22 projects worth 160 million U.S. dollars provided by the IDB are being implemented in the southern African country.
IDB’s investment in Mozambique is in the sectors of education, agriculture, health, and water supply.
According to Maleiane, “these are areas which contribute to the improvement in the rate of human development in the country.”

During the press conference, Maleiane announced that the 40th annual meeting of the IDB is to kick off in Maputo on Wednesday next week to discuss a series of important reports on the bank’s undertakings.
Maleiane added that the IDB is of utmost importance, because it is being held at the time Mozambique is this year celebrating 40 years of independence from Portugal.

For his part, IDB’s chairperson Ahmad Mohamed Ali assured that his financial institution will continue investing in Mozambique in various priority areas.

“We want Mozambique to be the entrance door for the IDB in southern Africa,” he said.
The IDB is an international financial institution with its headquarters in Jeddah, Saudi Arabia.
Mozambique is the only IDB member in the SADC (Southern African Development Community) region. Enditem



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