Mozambique, China sign $25m agreements

MAPUTO -- Mozambique and China signed on Saturday in Maputo two cooperation agreements worth nearly $25 million for the funding of projects that will still be identified by both governments.

Out of the total amount, $9.4 million was given to Mozambique as a loan while the remaining $14.3 million was given as a donation, Radio Mozambique reported on Sunday.

The Minister of Fisheries Victor Borges who represented Mozambique said that the agreements are part of the increasing and strengthening bilateral cooperation between the two governments and that the money will be applied in the development of infrastructures for the benefit of Mozambican people as part of the government efforts in the fight against poverty.

The Chinese government was represented by the assistant minister of commerce Li Rongcan. The injection of funds in Mozambique is in addition to $1.2 billion that the Chinese government has disbursed and $500 million to be provided, the state radio said.

The money will be refunded according to a calendar that the Mozambican government, beneficiary of the money, will propose to the Chinese government.