Maputo — This multinational project will promote economic growth and regional integration within SADC, through the development of reliable, effective and seamless transport infrastructure. Better access to the port by for landlocked regions will improve transport services, access to markets and social services for communities in the area, and contribute to poverty reduction. Some 787,000 people are expected to benefit directly from the project in Mozambique.

The AfDB has, to date, invested some US$ 6 billion in infrastructure in the SADC region, 42% of which was put into the transportation sector. It is about the only institution financing regional operations in Mozambique, and this project will benefit from the Bank's vast experience in implementing multinational projects on the continent.

Project negotiations focused mainly on project design, disbursements, procurement, monitoring and evaluation as well as audits, and culminated in the signing of the meetings' minutes by both parties signalling the acceptance of the terms of the loan agreement. The appraisal report will now be finalized for presentation to the Board of Directors for approval. Participants in the meetings included representatives of the Ministries of Finance, Planning and Development, officials of the Bank of Mozambique, the Road Fund, the National Roads Administration and the Japanese Embassy.