Mozambique receives US$124m for infrastructure development

03 June 2014

The government of Mozambique in collaboration with the Export-Import Bank (Eximbank) of South Korea has signed US$124m loan agreements for the construction of roads and landfills. The agreement was signed on Monday by the finance minister Manuel Chang and the Vice-president of Eximbank, Yim Seong-hyeog.

One of the loans, US$74m is for the construction of the roads between the town of Nampula and the town of Nametil, capital of Mogovolas district. The other US$48m has been allocated to combat the urban solid waste from the capital city of Maputo and the neighboring Matola.

The project will include a centre to recycle waste, and to produce biogas from garbage providing a source of income and employment to the people living in the area.

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