Mozambique Enhances Public Infrastructure with $158M Saudi Fund

Mozambique has bolstered its public infrastructure development after securing a $158 million financing package from the Saudi Development Fund. The fund will support three crucial projects under Mozambique’s Five-Year Plan, emphasizing healthcare expansion, water resource management, and transportation improvements.

by Ali Hassan

In a significant boost to its national development goals, Mozambique has received a substantial financial pledge from the Saudi Development Fund, totaling $158 million. This funding infusion is aimed at accelerating the Mozambican government’s ambitious Five-Year Plan, running from 2020 to 2024, with a focus on enhancing public infrastructure across multiple sectors.

The financing agreements were formalized in a ceremony in Riyadh by Mozambique’s Minister of Economy and Finance, Max Tonela, and the CEO of the Saudi Development Fund, Sultan Abdulrahman Al-Marshad. The earmarked funds are slated for the completion of five district hospitals, the construction of a new dam, and the refurbishment of vital national roadway segments.

These hospitals are a part of Mozambique’s initiative to ensure that each district is equipped with adequate healthcare facilities, a presidential directive aimed at improving the country’s health sector. The targeted districts for these new hospitals include Chimbonila in Niassa, Ribauè in Nampula, Molumbo in Zambézia, Vandúzi in Manica, and Limpopo in Gaza province. This development is expected to greatly enhance medical services in underserved areas.

Additionally, the construction of a dam in Muera is projected to alleviate the persistent water shortages experienced in the districts of Mueda, Muidumbe, and Nangade within the province of Cabo Delgado. This intervention is critical for the region’s water security and the well-being of its inhabitants.

In his statement, Minister Max Tonela underlined the Mozambican government’s commitment to leveraging financial mobilization for large-scale infrastructure projects as a top priority. Tonela emphasized the transformative potential of the new investments, stating that they “will not only improve the living standards of Mozambicans but also stimulate economic growth and lay a robust foundation for the nation’s progressive future.”

The commitment by the Saudi Development Fund underscores a growing international confidence in Mozambique’s development trajectory and its strategic approach to infrastructure enhancement. This agreement is a testament to the ongoing partnerships and foreign investment channels that are pivotal to the African nation’s growth and development strategy.

(Associated Medias | FAD) – All rights reserved.