The CEO of the Millennium Chalenge Corporation (MCC), Alice Albright, has submitted a recommendation for the release of 500 million dollars for development projects in Mozambique, known as Compact II.

The recommendation for approval will be submitted to the MCC's Board of Directors by June 28th and only then will the date for the start-up and implementation of the project be set, according to Alice Albright, quoted by the MCC. News.

She gave this assurance at a meeting she held in Washington, USA, with the Minister of Economy and Finance, Max Tonela, as part of the spring meetings with the International Monetary Fund (IMF) and the World Bank, which run until Sunday.

The MCC's Resident Director in Mozambique, Kenneth Miller, explained that around 300 million dollars is earmarked for investment in the transport and infrastructure sectors, with a major impact on the Licungo River in Mocuba, Zambézia. He also said that the government intends to increase the budget of the National Roads Administration.

According to Max Tonela, Compact II will cover three areas, namely the promotion of investment in commercial agriculture, connectivity and rural transport, and climate change and coastal development.

Tonela also said that Zambézia is the priority province to receive these investments and that local entrepreneurs "are at a disadvantage given the extreme poverty in the region". Training packages are therefore planned to empower them.