{"id":22983,"date":"2022-07-15T16:01:19","date_gmt":"2022-07-15T16:01:19","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/300-million-dollar-grant-from-world-bank"},"modified":"2022-07-15T16:01:19","modified_gmt":"2022-07-15T16:01:19","slug":"300-million-dollar-grant-from-world-bank","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/300-million-dollar-grant-from-world-bank","title":{"rendered":"300 million dollar grant from World Bank"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Board of Directors of the World Bank on Wednesday approved a grant of 300 million US dollars to Mozambique which is intended to support Mozambican Institutions and the \u201cEconomic Transformation Development Policy Financing (DPF) operation\u201d.<\/p>\n

According to a World Bank release, \u201cThis is the first in a series of three programmatic operations and supports a robust set of reforms aimed at strengthening institutions and laying the foundations for a sustained growth and economic transformation\u201d.<\/p>\n

The World Bank country director, Idah Pswarahi-Riddihough, said \u201cThis operation supports the country\u2019s recovery from COVID-19 and structural reforms to foster sustained growth, while providing much-needed financing to alleviate recent fiscal constraint.\u201d<\/p>\n

She added \u201cThis operation couldn\u2019t come at a better moment as Mozambique\u2019s economy is still reeling from the compounded effects of COVID-19, the protracted slowdown triggered by the hidden debt crisis, and the devastation caused by the tropical cyclones of 2019.\u201d<\/p>\n

The DPF financing, the Bank release says, covers \u201cstructural reforms to strengthen budgetary institutions and transparency\u201d, including \u201cenhancing the regulatory and institutional framework for sound and transparent resource revenue management; and improving public procurement governance and transparency\u201d.<\/p>\n

\u201cTogether, these measures\u201d, the release claims, \u201cwill address critical transparency and institutional weaknesses that undermine the governance and management of limited public resources\u201d.<\/p>\n

A further goal is to address \u201cbusiness environment and financial access constraints to support private sector development\u201d. This will cover \u201csimplification of the legal and regulatory requirements to open and operate businesses, improving the investment climate and incentivizing firm development and job creation; and lifting of legal and regulatory restrictions to promote financial access\u201d.<\/p>\n

This pillar of the DPR \u201cincludes a review of the 1993 Investment Law and the 2005 Commercial Code, which could result in further simplification and digitalization of procedures, expected to accelerate approval processes.<\/p>\n

The reforms, it adds, \u201care expected to expand access to financial services, particularly for low-risk micro, small and medium enterprises, and for women, while maintaining a clear and sound framework to guard against illicit activity\u201d.<\/p>\n

The DPF will also \u201cbuilds on Mozambique\u2019s climate change commitments to support a more resilient and greener growth path, addressing utility sector constraints that limit Mozambique\u2019s productive potential\u201d.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The Board of Directors of the World Bank on Wednesday approved a grant of 300 million US dollars to Mozambique which is intended to support Mozambican Institutions and the \u201cEconomic Transformation Development Policy Financing (DPF) operation\u201d. According to a World Bank release, \u201cThis is the first in a series of three programmatic […]<\/p>\n","protected":false},"author":84,"featured_media":22982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-22983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\n300 million dollar grant from World Bank - Mozambique<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/300-million-dollar-grant-from-world-bank\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"300 million dollar grant from World Bank\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Mozambique. The Board of Directors of the World Bank on Wednesday approved a grant of 300 million US dollars to Mozambique which is intended to support Mozambican Institutions and the \u201cEconomic Transformation Development Policy Financing (DPF) operation\u201d. 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