Mozambique: Repayment of Local Fund 'Insignificant' in Sofala

Maputo — The government of the central Mozambican province of Sofala has admitted that so far the repayment of loans under the Local Initiative Investment Budget (OIIL) has been "insignificant", reports Monday's issue of the Maputo daily "Noticias".

This initiative refers to the sum, initially of seven million meticais (about 280,000 US dollars) a year, allocated from the central budget to each of the 128 districts for projects to increase food production and create jobs. The money is handed over, not as a grant, but as a soft loan which the beneficiaries are supposed to repay.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.