EU buys ties to Mozambique

re posted from                                Club of Mozambique

EU To Support Mozambique With US$779 Million Until 2020

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2015-11-27) On Thursday the European Union Commissioner for International Cooperation and Development, Neven Mimica, signed in Brussels an agreement with Mozambican Deputy Foreign Minister Nyeleti Mondlane which covers 734 million euros (US$779 million) worth of support.

The finance comes under the European Union’s National Indicative Programme for Mozambique and will be disbursed up until 2020.

According to a statement from the European Commission, the funds will support the promotion of democracy, transparency, accountability and the rule of law, and public institutions, in line with the Mozambican government’s priorities.

Commissioner Neven Mimica commented, “there have been significant and positive political and economic developments in Mozambique over the last decades since the end of the civil war in 1992”.

He added that “it is important to build on this progress whilst making the best use of Mozambique’s impressive economic potential, notably in the sectors of gas, mining, hydro-energy and agriculture. Mozambique could also benefit enormously from its strategic position in Southern Africa. The key issue today is therefore how to make economic growth inclusive and sustainable, while maintaining political stability”.

Part of the funding will focus on a two pronged approach of improving food security and nutrition, whilst enhancing competitiveness amongst producers (through rural electrification and roads, for example), in order to foster the conditions for sustainable growth of small and medium-sized enterprises in rural areas.

The previous EU programme, which lasted from 2007 to 2013, focused on transport infrastructure and regional integration, as well as on agriculture and rural development to promote sustainable economic growth in rural areas, enhance food security and promote trade flows.

Source: AIM

Photo: File