{"id":1358,"date":"2021-06-24T16:04:52","date_gmt":"2021-06-24T16:04:52","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/?p=1358"},"modified":"2021-06-24T16:05:16","modified_gmt":"2021-06-24T16:05:16","slug":"african-development-bank-and-italian-technical-cooperation-fund-extend-e990000-grant-to-boost-agricultural-value-chains","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/community\/african-development-bank-and-italian-technical-cooperation-fund-extend-e990000-grant-to-boost-agricultural-value-chains","title":{"rendered":"African Development Bank and Italian Technical Cooperation Fund extend \u20ac990,000 grant to boost agricultural value chains"},"content":{"rendered":"<p><strong>AfricaPress-mozambique:<\/strong> The African Development Bank, with financing from the Italian Technical Cooperation Fund, has provided a \u20ac990,000 grant to help smaller agro-processing enterprises boost production and quality control.<\/p>\n<p>The project will enable the businesses to better tap into national and regional markets and capitalize on the opportunities created by the African Continental Free Trade Area. The Confederation of Business Associations of Mozambique is the implementing agency.<\/p>\n<p>\u201cWe are pleased to receive this grant from the African Development Bank and the Italian Technical Cooperation Fund, which will benefit about 300 agro-processing and agribusiness Small and Medium-sized Enterprises (SME) associations in Mozambique, particularly youth and women-led SMEs operating along the development corridors of Nacala-Beira-Pemba-Lichinga,\u201d said Dr. Agostinho Vuma, President of the Confederation of Business Associations of Mozambique, at the ceremony to hand over the grant funding.<\/p>\n<p>\u201cThe grant is apt to further step up the intense bilateral relations in the agriculture area built through the many projects financed by the Italian cooperation and that it can act as a catalyst to extend it to the private sector where it exists a huge and largely untapped potential,\u201d underlined the Italian Ambassador Dr. Gianni Bardini.<\/p>\n<p>African Development Bank country manager Dr. Pietro Toigo noted that the grant would provide critical support to Mozambique, especially amid the socioeconomic challenges posed by the Covid-19 pandemic. \u201cWe are pleased to partner with the CTA and the Government of Italy to support Mozambican SMEs recover from the COVID pandemic and scale up their competitiveness, as part of the African Development Bank\u2019s commitment to help Industrialise Africa and Mozambique,\u201d he said.<\/p>\n<p>The project supports the goals of Mozambique\u2019s Country Strategy Paper (2018-2022), which focuses on two strategic pillars: infrastructure investments that enable transformative inclusive growth and job creation, and agricultural transformation and value chain development.<\/p>\n<p>The Minister of Industry and Trade, Dr. Carlos Alberto Fortes Mesquita, highlighted the importance of such initiatives and their catalytical role in promoting Mozambique\u2019s agriculture modernisation and the industrialisation of critical sectors of the economy.<\/p>\n<p>Recently the Bank approved a $1 million grant to boost local content and the development of initiatives of small and medium enterprises.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AfricaPress-mozambique: The African Development Bank, with financing from the Italian Technical Cooperation Fund, has provided a \u20ac990,000 grant to help smaller agro-processing enterprises boost production and quality control. The project will enable the businesses to better tap into national and regional markets and capitalize on the opportunities created by the African Continental Free Trade Area. [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":1362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,8],"tags":[550,548],"class_list":["post-1358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","category-homepage-english","tag-italy","tag-sme"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>African Development Bank and Italian Technical Cooperation Fund extend \u20ac990,000 grant to boost agricultural value chains - Mozambique<\/title>\n<meta name=\"description\" content=\"The African Development Bank, with financing from the Italian Technical Cooperation Fund, has provided a \u20ac990,000 grant to help smaller\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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