The World Bank is satisfied with Mozambique’s performance concerning the repayment of loans granted by the organisation to finance projects in the country.
So said World Bank resident representative Mark Lundell in Maputo yesterday while addressing a project portfolios review.
According to Lundell, the level of repayment of loans has risen substantially over the past four years, with Mozambique managing to disburse around US$300 million dollars annually, against the previous 70 to 80 million.
“The World Bank is seeking, with the support of other partners, to increase resources and bring about better results in our efforts by increasing amount of money granted to the countries to around US$500 million dollars a year,” he said.
He added that Mozambique’s loan repayment levels were now above average not only in Africa but also in the world at large.
“The average of the remaining countries is around 21 percent, which means that Mozambique is repaying project finance in about four years, against the five of the other nations,” he said.
Minister of Economy and Finance Adriano Maleiane said that the projects portfolio review was one of the tools used to monitor the performance and follow-up on the most important stages of the country’s programme implementation process.
The Mozambican government recognised the role the World Bank had played through financial support in the form of credits and donations, contributing significantly to the country’s macroeconomic stabilisation, he said.
Source: Notícias
