The US foreign aid agency, Millennium Challenge Corporation (MCC), will provide 500 million dollars for three projects in transportation and connectivity, climate change management and commercial agriculture in Mozambique.

The information was provided this Wednesday by the MCC's deputy executive director, Mahmoud Bah, after a meeting in Maputo with the Minister of Economy and Finance, Max Tonela.

The memorandum of understanding for the release of the funds is expected to be signed later this year, according to the News.

At the meeting, the officials signed a memorandum on the scope and purpose of MCC's new compact with Mozambique. The daily recalls that in April 2022, MCC announced the availability of 10 million dollars for the program.

Max Tonela said he was pleased that Mozambique had been re-elected in 2020 to benefit from the financing program. The Minister also assured that the Executive will make another 3.75 million dollars available to finance road construction in the country.

Mozambique received 507 million dollars in the first MCC financing package, concluded in 2013.