India grants 217 million dollars for infrastructure in Mozambique

Three agreements between Mozambique and India were signed during the visit of Indian Foreign Minister Preneet Kaur to the country. The amount will be applied to projects in the public works and housing sector. Live TV

India grants 217 million dollars for infrastructure in Mozambique

The Indian Foreign Minister (main photo) expressed satisfaction with the results of the Joint Commission session between India and Mozambique, which culminated in the signing of three agreements.

The amount will be used for the construction of one thousand two hundred houses in the provinces of Tete and Cabo Delgado, as well as the development of rural water in Manica, Zambezia, and Nampula and the financing of the rehabilitation of the Tica-Buzi-Nova road in Sofala.

For the Minister of Finance of Mozambique, Manuel Changue, the terms of

this loan concession, through the Exim Bank of India, are advantageous. "Concessional credits have a deferment period of about six years. And the interest rate is also reasonable, therefore, less than 2%", declared the official.

During her visit to Mozambique, the Indian minister is accompanied by a delegation that includes more than 20 businessmen, with interests in Mozambique or seeking business opportunities. Mozambique and India already cooperate in the areas of mineral resources, science and technology, transport and communications, public works among others.

The Deputy Minister of Foreign Affairs of Mozambique, Eduardo Koloma, says that the new agreements signed with India will contribute to efforts to combat poverty. "They respond to the socio-economic development priorities of the country, within the Government's poverty reduction program", he stated.

The Indian minister said that her country will enhance the training of Mozambicans

in the area of hydrocarbons, which has a significant shortage of skilled personnel despite new discoveries of natural resources. #BinanceBlockchainWeek