Five-year programme implemented by Italy budgeted at 93.4 million dollars

Maputo, 14 Aug (AIM) – The Italian government is implementing a five-year programme, budgeted at 85 million Euros (93.4 million dollars at the current exchange rate), to help Mozambique to develop its strategic sectors. ]

According to the Italian Ambassador to Mozambique, Gianni Bardini, speaking in an interview with AIM, this is the first time since the start of bilateral cooperation with Mozambique in the 1970s that Italy has introduced a five-year programme as its vision of development on the African continent.

The programme, which was signed in 2022 during Italian President Sergio Mattarella’s visit to Mozambique, establishes productive links in different sectors of the economy.

Italy is currently concentrating its intervention in the central provinces of Sofala and Manica, where pilot projects are underway, notably the creation of an agri-food centre in Chimoio, budgeted at 35 million Euros, of which 5 million Euros are grants and 30 million Euros are soft loans loans.

According to the ambassador, this is an important project that will serve as a technological incubator for the transfer of skills at a time when, although agricultural production is very important, the country still has a limited number of agro-processing units.

“Finally, after much waiting and preparation, the project is about to get under way. Construction of the agri-food centre will begin in October”, he said.

“In terms of economic impact, the Italian presence in Mozambique has never been as visible as it is today, reinforced by Eni’s presence through the Coral Sul FLNG hydrocarbon exploration project in the Rovuma Basin”, he said.

The Italian energy company ENI also holds a 25 per cent stake in ExxonMobil’s gas exploration project in Cabo Delgado, which is awaiting a final investment decision.

Saipem, which is another Italian company involved in the Cabo Delgado LNG project, is still waiting for the resumption of onshore operations, headed by the French company TotalEnergies, which were interrupted in 2021 when terrorists attacked Palma town.

The onshore LNG project is budgeted at 23 billion dollars, easily the largest foreign investment in Mozambique to date.

Saipem is responsible for engineering the LNG project and has signed a seven billion dollar deal to implement the project.

(AIM)

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