Post-Cyclone Recovery: Nearly 900 million meticals credit line for private sector

The government launched, this Thursday in the city of Beira, Sofala, a line of credit of about 900 million meticais for the recovery of the private sector after the cyclones Idai and Kenneth.

 The funding is aimed at more than two thousand micro, small, and medium-sized companies affected by the bad weather in the center and north of the country.

 The general director of the Economy Recovery Support Fund (FARE), Augusto Isabel, said that besides this line of funding, the government and partners will make several interventions to revitalize the business fabric.

 "In parallel, FARE has $3.6 million on hand to implement the project to support local financial institutions. It is important to mention that this project will benefit various groups in the provinces affected by the cyclones, which will be another step towards community development," he stressed.

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