18 November 2008
Maputo — The Mozambican and Chinese governments signed three agreements in Maputo on Tuesday, under which China is to provide a total of 43 million dollars in loan and grant finance.
The largest sum is a loan of 22 million US dollars for the fourth funding phase in the construction of Mozambique's new national sports stadium. The stadium is to be completed by 2010, before the football World Cup to be held in neighbouring South Africa that year. Since the start of this work, China has disbursed abut 50 million dollars for what is the largest sports undertaking ever designed in Mozambique.
A second loan, for 18 million dollars, is to support agricultural projects in the Zambezi Valley, while the third agreement is for a grant of three million dollars to be used in basic development sectors yet to be identified.
The agreements were signed by Mozambican Finance Minister Manuel Chang and the Chinese ambassador, Tian Guangfong, under the terms of the Cooperation Protocol signed in February, during the visit to China by Mozambican President Armando Guebuza.
Speaking at the occasion, Chang stressed that the funding of projects in the Zambezi valley is a stimulus to the government's efforts to render the country's agriculture more competitive.
"The government is redoubling its efforts to improve agricultural yields, because more production will mean fewer imports', he said.
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