World Bank grants over 40 million USD to Mozambique for N1 highway
8 July 2011
Mozambique has just received a gift of 40.2 million dollars from the World Bank to finance the completion of the works on three sections of the national highway 1, linking the North to the south of the country.
The resident director of the WB, Lawrence Clark, signed the financing agreement with Mozambique's Minister of Planning, Mr. Cuereneia, last weekend in Maputo, reports the journal Réussir Business.
The modernization of this main route should stimulate national economic growth, by improving the movement of goods and people across Mozambique.
Elsewhere, the government of Mozambique announced in June its intention to utilize the funds of 200 million USD which the African Development Bank is looking to invest in the next three years, with as priority agriculture and infrastructures, it was reported Monday by the Mozambique News Agency.
It hopes to concentrate in particular on the road sector, with the road between Nampula and Lichinga, and the road running from Mueda to Negamano.