US financing for Mozambique will need $8.6 million in preparation

The office preparing the new financing program for Mozambique from the Millennium Challenge Corporation (MCC, the US external support agency) plans to contract up to 8.6 million dollars in studies and services by September.

The money is to be invested in 14 items, ranging from studies on the potential of the wildlife-based economy, 'green' and 'blue' carbon projects, to an analysis of the situation of bridges, among others, a note on the website of the Mozambican Ministry of Economy and Finance explains.

This work should underpin the program that will focus on the development of Zambézia province, in the center of the country.

The memorandum on the scope and objectives of MCC's new 'compact' (the name given to the financing program) with Mozambique was signed on 30 January between the Mozambican government and the agency, and provides for overall financing of 500 million dollars.

At the time, it was announced that the package could be signed later this year.

The funds will be channelled into three areas: transport and connectivity, climate change management and commercial agriculture.

Mozambique has already benefited from a first MCC funding program, completed in 2013, during which the country received $507 million.

The MCC is a US government-funded agency that provides grants for a fixed period to developing countries.

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