Portugal's Prime Minister, António Costa, yesterday announced an increase of 40% in the funds earmarked for projects under the Strategic Cooperation Program with Mozambique, representing more than 90 million euros.

"Within the scope of this summit, we can reinforce the amount of the next Strategic Cooperation Program [PEC] 2022-2026, which founds our strategic partnership between Mozambique and Portugal and will thus have an increase of 40% of the total sums dedicated to programs, projects and actions, which will exceed 90 million euros," announced António Costa, quoted by Lusa.

António Costa made this announcement in Maputo at a press conference at the end of a meeting with the President of the Republic of Mozambique, Filipe Nyusi, as part of the 5th Luso-Mozambican Summit.

The PEC, signed in November 2021, lasts for five years and the head of government indicated that it "will focus on traditional areas of sovereignty, such as defense, justice, internal administration," and "deepens and renews cooperation in the strategic areas of education and health.

Indicating that until 2021 the SGP "executed 135 million Euros", the Prime Minister indicated that the new framework foresees "185 million Euros".

Considering that the future "necessarily involves strengthening economic relations," the Prime Minister also said that within the scope of the V Luso-Moçambican Summit, "two instruments for supporting business investment in Mozambique will be reviewed and modernized: the business fund for cooperation and the specific program for business investment in Mozambique.

António Costa indicated that, on the sidelines of the summit, the "Lusophone Compact" will be signed, a program through which Portugal guarantees 400 million Euros of financing by the African Development Bank for business investment in the community of Portuguese-speaking African Countries (PALOP).

The prime minister also highlighted two other protocols that will be signed today and that "aim to strengthen the development potential of the Cabo Delgado region," with the installation of "a research center dedicated to gas and oil and a professional training program in the area of gas, which will target about 1,200 young Mozambicans.

"We are fighting terrorism not only from a military and humanitarian point of view, but also from the point of view of the development of the region," he pointed out.

As far as agriculture is concerned, Costa considered that Mozambique "has enormous potential from an agricultural point of view.

"And if humanity faces an enormous challenge in its energy transition, it faces no less of a challenge from the point of view of food security, and therefore diversification, increase, and quality of food is an ever greater challenge and one where Mozambique has an absolutely decisive role," he argued.

The governments of Portugal and Mozambique today signed six cooperation protocols as part of the V Luso-Moçambican Summit in the areas of education, heritage rehabilitation, technical and operational skills of Mozambique's security forces and services, justice and agriculture.

"On all fronts, from the point of view of political cooperation, military cooperation in the fight against terrorism, development in the area of health or education, or from the point of view of economic relations, this V summit will surely be a very important milestone in our relations," considered the Portuguese head of government.

Drawing a picture of the situation in Mozambique compared to the last summit, in 2019, the prime minister considered that the country "has a new framework, frankly favorable to investment," particularly by Portuguese companies, with the resumption of financial support from the International Monetary Fund (after the scandal of hidden debts) and the retreat of terrorism.