17 June 2013

Mozambique: Badea to Finance Rural Electrification

The Arab Bank for Economic Development in Africa (BADEA) and the Mozambican government on 29 May in the Moroccan city of Marrakesh signed an agreement under which the bank will provide credit to finance a rural electrification project in the Mozambican provinces of Niassa and Zambezia.

According to the Mozambican Ministry of Finance, the $10 million credit will fund the construction of power transmission lines in the districts of Cuamba, Marrupa, Lugela and Mecula.

The project will cost a total of $55 million, and will also receive funding from the Saudi Fund ($15 million), Islamic Development Bank ($8 million), Kuwait Fund ($10 million), OPEC ($10 million) and the Mozambican government ($2 million).

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