{"id":58257,"date":"2024-03-30T22:28:33","date_gmt":"2024-03-30T22:28:33","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/african-development-bank-and-mozambique-strengthen-partnerships-to-boost-regional-infrastructure-development-and-trade"},"modified":"2024-03-30T22:36:43","modified_gmt":"2024-03-30T22:36:43","slug":"african-development-bank-and-mozambique-strengthen-partnerships-to-boost-regional-infrastructure-development-and-trade","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/african-development-bank-and-mozambique-strengthen-partnerships-to-boost-regional-infrastructure-development-and-trade","title":{"rendered":"African Development Bank and Mozambique strengthen partnerships to boost regional infrastructure development and trade"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The African Development Bank and Mozambique reinforced their partnership during a visit by Mr. Solomon Quaynor, the Bank\u2019s Vice President for Private Sector, Infrastructure and Industrialization.<\/p>\n

This visit, held from March 12th to 15th, 2024, underscores the Bank\u2019s commitment to supporting Mozambique\u2019s economic growth trajectory, particularly following the third review of the country\u2019s Extended Credit Facility with the International Monetary Fund and the Bank\u2019s recent Economic Acceleration Package and Budget Support Mission.<\/p>\n

Accompanied by the Bank\u2019s Country Manager Cesar Mba Abogo, Vice President Quaynor held meetings with key government officials, including Minister of Economy and Finance and African Development Bank Governor Ernesto Max Elias Tonela; Minister of Transport and Communications Mateus Magala; and Minister of Industry and Commerce, Silvino Augusto Moreno.<\/p>\n

Discussions revolved around the Bank\u2019s support for private sector development and industrialization through strategic infrastructure projects along vital regional economic corridors linked to Maputo, Beira, and Nacala. These corridors hold immense potential to unlock Mozambique\u2019s economic opportunities and foster regional trade with several other countries.<\/p>\n

Quaynor also held consultation meetings with other stakeholders involved in the Mozambican economy, including the Mozambican Association of Banks, Cahora Bassa Hydroelectric, Portos e Caminhos de Ferro de Mozambique, Maputo Port Development Company, Confederation of Economic Associations of Mozambique, Mozambique\u2019s premier industrial park company called Moz Parks, Export Trading Group and the Canadian Minister of International Development, Ahmed Hussen.<\/p>\n

The Mozambican government expressed gratitude for the Bank\u2019s continued support for regional integration and green industrialization in Southern Africa.<\/p>\n

Minister Tonela said, \u201cWe are encouraged by Mozambique\u2019s economic prospects. The resilience our nation has demonstrated in the face of acute shocks is a testament to the strength and determination of our people. However, we acknowledge that fragility drivers, such as climate change and security threats, remain a concern. This is why partnerships with development institutions like the AfDB are so crucial. We are determined to foster inclusive and green growth for our people, the region and the world.\u201d<\/p>\n

The partnership between the Bank and Mozambique aligns with the country\u2019s national development plans and the institution\u2019s long-term strategies, prioritizing economic governance, private sector investment, and sustainable agricultural transformation \u2013 a critical sector for Mozambique\u2019s economic diversification.<\/p>\n

Quaynor stated, \u201cMozambique\u2019s resilience is a strong indication of the leadership role that it is poised to play in ensuring green energy supply to the South African Power Pool, as well as building climate resilient economic corridors to benefit internal markets in Mozambique as well as regional trade with and from land-linked countries in the Southern Africa Development Community. We appreciate the government\u2019s steadfast trust in the Bank\u2019s capacity to deliver on its mandate in Mozambique.\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 African Development Bank and Mozambique reinforced their partnership during a visit by Mr. Solomon Quaynor, the Bank\u2019s Vice President for Private Sector, Infrastructure and Industrialization. This visit, held from March 12th to 15th, 2024, underscores the Bank\u2019s commitment to supporting Mozambique\u2019s economic growth trajectory, particularly following the third review of the […]<\/p>\n","protected":false},"author":84,"featured_media":58256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-58257","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":"\nAfrican Development Bank and Mozambique strengthen partnerships to boost regional infrastructure development and trade - Mozambique<\/title>\n<meta name=\"description\" content=\"The African Development Bank and Mozambique reinforced their partnership during a visit by Mr. Solomon Quaynor, the Bank ...\" \/>\n<meta name=\"robots\" content=\"index, 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