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World Bank finances agricultural programme in Mozambique

Macauhub | February 17, 2017
 The Islamic Chamber of Commerce , Industry and Agriculture (ICCIA)

The World Bank will finance the Mozambican government programme known as “Sustenta” designed to encourage agricultural production by small farmers and is estimated to benefit over 700,000 people, said on Tuesday the Mozambican Minister of Land, Environment and Rural Development .

Minister Celso Correia also said that access to finance in the amount of US$224 million will increase the income of rural families, to increase agricultural yields and for producers to gain access to markets.

Initially the project will cover the provinces of Zambezia, in central Mozambique, and Nampula in the north, creating a financing mechanism at zero interest.

The minister also said that under this programme the government aims to restore 240 hectares of irrigated land and recover infrastructures that are important for agriculture in those two provinces.

“Our expectation is that this investment in families may bring faster results in combating poverty,” the minister said adding that the project will be officially launched on Friday in Nampula.