Maputo — THE World Bank has approved a grant of US$35 million to assist Mozambique rebuild after the devastating effects of cyclones earlier this year.
This financing is accompanied by a $10 million grant from a Multi-donor Trust Fund supported by the Department for International Development, United Kingdom, the Netherlands and Sweden.
Mozambique is reeling from the Cyclones Idai and Kenneth that left hundreds of people dead and thousands displaced.
"The recent natural disaster events have resulted in tremendous human suffering in rural and urban communities throughout Mozambique," noted Mark Lundell, World Bank Country Director for Mozambique, Madagascar, Mauritius, Seychelles and Comoros.
He said the project would help the extremely poor households affected by these natural hazards by providing temporary income support while continuing the efforts of putting in place the building blocks of a social safety net system in the country.
These funds are part of the World Bank's broader package which comprises a set of operations totaling about $700 million in International Development Association resources to support cyclone response in Malawi, Mozambique and Zimbabwe
Edmundo Murrugarra, World Bank Senior Social Protection Economist, who is responsible for the Project, said the climate-related shocks disproportionately affect the most vulnerable.
"These extreme events pose serious threats to poverty reduction efforts and emphasize the need to strengthen social protection systems to rapidly respond to support consumption smoothing among vulnerable families," Murrugarra stated.