Maputo — The World Bank Board of Executive on Thursday endorsed a new Country Partnership Framework (CPF) fpr the period 2026 to 2031.
A World Bank release on Monday said "As Mozambique confronts the severe impacts of the recent floods, highlighting the country's vulnerability to natural disasters, we extend our heartfelt sympathies and solidarity to all affected communities".
The Bank claimed that the CPF "responds to these challenges by prioritizing resilience and inclusive growth, setting out a strategic five-year programme to unlock economic opportunities and create more and better jobs for the country's young population, while leveraging Mozambique's rich natural resources and strategic geographic location".
"The new strategy", it adds, "reflects the World Bank Group's commitment to supporting Mozambique's vision for inclusive, resilient development. It aligns with national priorities to accelerate economic transformation, strengthen institutions, and expand opportunities for youth and women".
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"Building on the government's efforts to revitalize economic corridors", the release continues, the CPF "focuses on energy, agribusiness, and tourism while developing a skilled workforce, reinforcing macro-fiscal stability, and addressing fragility".
"These priorities", it declares, "are captured in four outcomes that guide the CPF's support: strengthening macro-fiscal stability; improving workforce skills; expanding energy access and powering economic corridors; and increasing private sector-led jobs in agribusiness and tourism".
"This new CPF is a selective shift in our engagement with Mozambique to reflect our laser focus on jobs," claimed the World Bank Director for Mozambique, Fily Sissoko. "By focusing on economic corridors and sectors with high job creation potential, such as energy, agribusiness, and tourism, we aim to mobilize around 2.5 billion US dollars over the CPF period to help Mozambique transform its natural wealth into tangible opportunities and better jobs, particularly for youth and women."
During this new partnership cycle, the release said, "financial instruments from across the World Bank Group will be mobilized to help attract private investment, including guarantees, blended finance, and advisory services"/
"This CPF comes at a critical juncture for Mozambique, where the role of the private sector is paramount to generating jobs at scale and meeting the country's development ambitions," claimed Cláudia da Conceição, the International Finance Corporation's Southern Africa Regional Director, cited in the release.
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"We are committed to supporting the private sector and facilitating dialogue between public and private stakeholders to unlock the country's tremendous potential for investment opportunities", she stressed.
In addition, the World Bank Group Board of Directors also approved Mozambique's access to around 450 million dollars in funding through a Prevention and Resilience Window. This support is meant to help the country prevent and reduce conflict, prevent drivers of fragility, and build broader stability over the next few years.
