AfDB offers $88M to Mozambique

The African Development Bank plans to lend $88 million to Mozambique in support of the government’s Action Plan for the Reduction of Absolute Poverty (PARPA II). According to the bank, the said program is aimed at “ensuring sound macroeconomic management whilst strengthening public financial management, improving the quality of public services delivered to citizens, and undertaking legal and justice reform including private sector development.” The agency will issue the funds in two tranches, one during the 2006 financial year, and the latter in May 2007. (Source: AfDB announces 88 million dollars loan to Mozambique/Xinhua)

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