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Government And World Bank Negotiate Loan Fund
Maputo, 13 Fev (AIM) – The Mozambican Government and the World Bank have been looking for mechanisms for the creation of a Loan Fund Guarantee budgeted at 250 million dollars, within the Economic Acceleration Programme (PAE) adopted in 2022.
The PAE constitutes a document with twenty reform measures intended to resume economic growth after the restrictions imposed by the Covid-19 pandemic. Among the measures is the improvement of the business and fiscal environment, as well as improvement of transparency in policies for the construction of strategic infrastructures.
The World Bank, according to the Maputo daily “Notícias”, has recently presented the advances achieved so far, including the allocation of resources aimed at increasing the economic opportunities for micro, small and medium-sized enterprises and the utilization of financing services.
The negotiations are taking place at a moment when the Government, in coordination with the European Union and the World Bank, had set up a working committee to remove the country from the “grey list’, announced by the Financial Action Task Force (FATF) covering countries that showed weaknesses in the fight against money laundering and the financing of terrorism.
“For the the creation of the Loan Fund Guarantee there must exist the promotion of access and utilization of financing services by the Micro, Small and Medium-Sized Enterprises, as well the improvement of economic and employment opportunities in this sector”, says the World Bank.
The creation of the Loan Fund Guarantee, in the government’s view, intends to respond to the difficult access and high cost of financing for the Micro, Small and Medium-Sized Enterprises.
(AIM)
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