{"id":41842,"date":"2023-07-03T10:20:37","date_gmt":"2023-07-03T10:20:37","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-adopts-new-country-strategy-paper-covering-2023-2028"},"modified":"2023-07-03T10:35:14","modified_gmt":"2023-07-03T10:35:14","slug":"afdb-adopts-new-country-strategy-paper-covering-2023-2028","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-adopts-new-country-strategy-paper-covering-2023-2028","title":{"rendered":"AfDB adopts new Country Strategy Paper covering 2023-2028"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Board of Directors of the African Development Bank Group has endorsed the Bank\u2019s 2023-2028 Country Strategy Paper for Mozambique on 13 June 2023. The new strategy aims to promote the country\u2019s structural transformation by improving fiscal stability, creating decent jobs and generating inclusive growth.<\/p>\n

The strategy has two priority areas: fostering improved economic governance and the business environment to facilitate private sector investment and mobilize resources and transforming agricultural value chains by strengthening infrastructure sustainably.<\/p>\n

This strategy is the culmination of efforts by the government, development partners, civil society, the private sector and technical experts on the country\u2019s most critical economic reforms to implement in the coming years.<\/p>\n

The African Development Bank is working to support the Mozambican Government in consolidating the results of previous and ongoing reforms in economic governance and the business environment. The government is also adopting new regulations and bolstering various administrative processes to improve the country\u2019s fiscal position and stimulate private sector inflows.<\/p>\n

\u201cThe African Development Bank has been a critical partner in financing the development of our economy. With this new strategy, the Government of Mozambique reaffirms its commitment to work towards strengthening our cooperation considering the objectives we jointly defined for Mozambique,\u201d said Minister of Economy and Finance Max Tonela.<\/p>\n

Cesar Augusto Mba Abogo, African Development Bank Country Manager, said, \u201cThe approved strategy effectively addresses the challenges and opportunities for fostering inclusive and sustainable economic growth in Mozambique. The extensive consultations conducted with stakeholders, including the private sector, development partners, and civil society, have been commendable. Furthermore, the remarkable co-leadership exhibited by the Government of Mozambique throughout the process has been instrumental in shaping the strategy.\u201d<\/p>\n

Implementation of the strategy is expected to lead to (i) greater private sector involvement to boost international trade; (ii) improved investment flows, and (iii) job creation\u2014especially for women and young people. This is expected to have a knock-on effect of raising foreign direct investment to 30% of GDP from 22.7%.<\/p>\n

With support from the Bank, Mozambique will stimulate the green economy and transform agriculture to increase the number of competitive industries capable of creating jobs and reducing poverty and inequality. The Bank\u2019s engagement will also help improve livelihoods through investments in the agricultural sector based on a holistic, cross-sectoral approach and the development and modernization of Mozambique\u2019s energy system.<\/p>\n

The 2023-2028 Country Strategy Paper for Mozambique envisages establishment of a productive special agro-industrial processing zone by 2028 through the creation of 50 new companies and 200 new cooperatives or groups of external producers. It also projects that new investments will total $100 million. Mozambique\u2019s electricity exports to southern Africa are expected to equal over five gigawatt-hours.<\/p>\n

As of 28 February 2023, the African Development Bank Group\u2019s active portfolio in Mozambique comprised 38 operations with a total commitment of $1.21 billion.<\/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 African Development Bank Group has endorsed the Bank\u2019s 2023-2028 Country Strategy Paper for Mozambique on 13 June 2023. The new strategy aims to promote the country\u2019s structural transformation by improving fiscal stability, creating decent jobs and generating inclusive growth. The strategy has two priority areas: fostering […]<\/p>\n","protected":false},"author":84,"featured_media":41841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-41842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nAfDB adopts new Country Strategy Paper covering 2023-2028 - Mozambique<\/title>\n<meta name=\"description\" content=\"The Board of Directors of the African Development Bank Group has endorsed the Bank\u2019s 2023-2028 Country Strategy Paper fo ...\" \/>\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\/afdb-adopts-new-country-strategy-paper-covering-2023-2028\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB adopts new Country Strategy Paper covering 2023-2028\" \/>\n<meta property=\"og:description\" content=\"The Board of Directors of the African Development Bank Group has endorsed the Bank\u2019s 2023-2028 Country Strategy Paper fo ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-adopts-new-country-strategy-paper-covering-2023-2028\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-03T10:20:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-03T10:35:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1688364200.942989.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"857\" \/>\n\t<meta property=\"og:image:height\" content=\"539\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-adopts-new-country-strategy-paper-covering-2023-2028#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-adopts-new-country-strategy-paper-covering-2023-2028\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"AfDB adopts new Country Strategy Paper covering 2023-2028\",\"datePublished\":\"2023-07-03T10:20:37+00:00\",\"dateModified\":\"2023-07-03T10:35:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-adopts-new-country-strategy-paper-covering-2023-2028\"},\"wordCount\":481,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-adopts-new-country-strategy-paper-covering-2023-2028#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1688364200.942989.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-adopts-new-country-strategy-paper-covering-2023-2028#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-adopts-new-country-strategy-paper-covering-2023-2028\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-adopts-new-country-strategy-paper-covering-2023-2028\",\"name\":\"AfDB adopts new Country Strategy Paper covering 2023-2028 - 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