Mozambique Secures EIB Energy Aid

The European Investment Bank has approved a loan of 45 million euros (USD58 million) to help state-owned electric utility Electricidade de Mocambique provide reliable power supply in the African nation.

The loan will fund the construction of a high-voltage power transmission line that will connect Maputo to the Cahora Bassa hydropower dam on Zambezi river, Bloomberg reports.

EIB previously said it will spend as much as 104 million euros to enhance Mozambique’s electric grid, according to Reuters.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.

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