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

The information was advanced 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 should be signed later this year, according to News.

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

Max Tonela said that it was a satisfaction that Mozambique was re-elected in 2020 to benefit from the financing program. The Minister also assured that the Executive will make available an additional 3.75 million dollars to finance road construction in the country.

Mozambique received $507 million in the first MCC funding package, completed in 2013.