The African Development Bank (AfDB) is in a better position to mobilize public-private investment in the field of renewable energies, according to the Deputy Minister of Economy and Finance, Amílcar Tivane.

Speaking this Wednesday in Egypt during the second session of the AfDB's Board of Governors, he said that the country is transforming its energy matrix and that the AfDB should help in this process of just transition.

"Mozambique is working on diversifying its energy matrix, and we believe that as we get closer to investments in renewables, the bank will be able to contribute," he said, stressing that "here the role of the private sector is very important".

On the other hand, Tivane considered that climate resilience and fiscal sustainability is critical in Mozambique due to recurring shocks that reduce fiscal space to meet climate pressures.

"We think that the African Bank is best placed to contribute to the integration of all matters relating to climate issues into macro-fiscal policy design frameworks, especially by lending its knowledge capital to improving the quality of projects aimed at improving climate resilience, adaptation and food security," he said, as quoted by Radio Mozambique.