The initiative by EIB Global and Moza Banco, as part of the Global Gateway Strategy, will offer financing to small and medium-sized enterprises in Mozambique, with a special focus on businesses owned or run by women.

Women are less likely to be able to access adequate financing for their businesses and the EIB-Moza Banco instrument will bridge this financing gap.

The project will support economic growth, prosperity and gender equality.

Access to finance for women entrepreneurs in Mozambique will increase thanks to a 10 million euro loan signed today by the European Investment Bank (EIB).

The funding will enable Moza Banco to provide a new 20 million euro instrument for the country's small and medium-sized enterprises (SMEs).

The instrument will offer loans with favorable conditions, aimed at companies that are owned or led by women, that employ a significant number of women or that offer specific services for women.

Funding will be available in various sectors, including manufacturing, transport, agriculture, health and services.

The African continent has one of the highest percentages of female entrepreneurs in the world. In Mozambique, more than three quarters of the working population derives its livelihood from a small or medium-sized business, and two thirds of the workers in these businesses are women.

"The economic emancipation of women is essential for a country's development," said Thomas Östros, EIB Vice-President, responsible for diversity and inclusion, as well as operations in African countries.

"By investing in small businesses run by women in Mozambique, the EIB helps them access economic opportunities, create livelihoods and gain financial independence.

Investing in these companies is not only an investment in women, but also in the education and health of their families, as well as in employment. The prosperity of women benefits society and the economy as a whole."

The CEO of Moza Banco, Manuel Soares, said that "Moza Banco firmly believes in the transformative power of financing projects that strengthen the role of women in society, recognizing that this not only boosts economic development, but also promotes the financial independence of this important social group.

The European Union's ambassador to Mozambique, Antonino Maggiore, said that "the Global Gateway Strategy in Mozambique aims to encourage public and private investment to generate sustainable growth and jobs for the country's growing youth population. Therefore, one of its priorities is to ensure that SMEs, especially those led by women, have greater access to finance."

The European Union has high hopes that, as a result of this financing instrument, the potential of the Mozambican private sector will be fully exploited.