The construction of a railway line and a deep water port in Nacala, Nampula province, will benefit from funding from the African Development Bank (ADB) estimated at over five billion dollars, to boost maritime trade and market access.

This information was revealed by the ADB's Director-General for Southern Africa, Leila Farah Mokadem, on the first day of the Crescendo Azul International Conference, held this month in Vilankulo, Inhambane.

A source from the institution assured, this Thursday, the existence of the fund to boost commerce in Nacala, and turn it into a regional reference area.

Our source, who could not reveal more details about the ADB project for that region of the country, assured that soon the general lines of the investment will be public knowledge.

ADB attended the Crescendo Azul International Conference for the second time, and on the occasion, Leila Farah Mokadem made the institution's commitment to continue supporting Mozambique "to unleash the potential of the Blue Economy in the post-pandemic era, [by] encouraging regional governance approaches to coastal resilience and transboundary fisheries management in the Mozambique Channel and Indian Ocean region."

According to a press release, the AfDB has signed a memorandum of partnership with the Global Adaptation Center, resulting in the "Africa Adaptation Acceleration Program," which is expected to mobilize an additional $25 billion to build climate change resilient systems.

In addition to participating in the "Blue Crescendo," the ADB Managing Director for Southern Africa and other bank staff held separate dialogues with the Minister of Sea, Inland Waters and Fisheries, Augusta Maita, and the Minister of Economy and Finance, Adriano Maleiane, addressing issues on the development of Northern Mozambique, through the Northern Mozambique Resilience and Integrated Development Strategy (ERDIN); the transformation of the agricultural sector; the review process of the National Economic Development Strategy for the next 20 years (ENDE) and macroeconomic stability issues.

On the other hand, the ADB Director held a meeting with Mozambican businesswomen where they discussed the challenges and opportunities for the development of the private sector in the country and the post-covid-19 economic recovery, through the point of view of female entrepreneurs.