The African Development Bank (ADB) has just announced $2.5 million in funding for Small and Medium Enterprise (SME) development, with a focus on women-led businesses in the natural resources sector in Mozambique.

This is a support channeled to the Institute for the Promotion of Small and Medium Enterprises (IPEME) from the Affirmative Financial Action for Women in Africa (AFAWA) and the African Private Sector Assistance Fund (FAPA), both managed by the AfDB.

"These contributions are made following the approval in November 2019 by ADB's Board of Directors of a $400 million loan for Mozambique's "LNG Area 1," says ADB, to then add that "the financing agreement contemplates strengthening the development capacity of local companies through specific technical assistance programs for job creation in the country."