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Publish Date : 08-Oct-2012

An agreement for Germany was signed by Mozambican and German governments for donating 28.5 million euros to support Mozambican economic development by promoting the financial sector.

Germany is one of Mozambique’s main cooperation partners and is part of the so-called G19 group of countries and organisations that fund the State Budget. Last year Germany provided 15 million euros.

Kreditanstalt für Wiederaufbau (KfW), German development bank will be providing donations and will be used to open up a credit line of 18 million euros to fund micro, small and medium-sized companies, one for banking services worth 4 million euros, and a deposit guarantee fund worth 4.5 million euros.

Another technical cooperation agreement worth 5.6 million euros is signed by two countriesto adopt special measures on climate change issues, as well as another similar agreement for the city of Beira worth 13 million euros, which was signed in May.
Manuel Chang, Mozambique’s Finance Minister and Ralf Orlik, director of KfW has signed current agreement.

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