Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:


  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

Mozambique: African Development Fund approves $20 million to improve business environment and drive investments to climate-smart agriculture

Published by APO Africa Newsroom on Tue, 19 Sep 2023

The Board of Directors of the African Development Fund (https://apo-opa.info/42vfbFI), the African Development Bank Groups (www.AfDB.org) concessional lending window, has approved a grant of $19.98 million to finance the implementation of Mozambiques Economic Acceleration and Governance Support Programme.This funding is the first of two successive geberal budget support operations for fiscal years 2023 and 2024, each worth about $20 million.The programme will support reforms in two broad areas, namely (i) Improving the private sector enabling environment for economic recovery and green growth, and (ii) Strengthening the efficiency, accountability and transparency of public expenditure. It will enable Mozambique to streamline the regulatory framework and investment facilitation processesthat foster private sector development and attract investment in climate-smart agriculture. It is expected to help stimulate the development of agribusiness and micro, small and medium-sized enterprises, as well as finance efforts to mainstream gender and climate action initiatives into economic development. It will also strengthen public financial management, particularly internal controls, public procurement, and debt management functions.Numerous reform measures are supported by the program. These include securing the governments approval of the Agricultural Development Strategy (2030) and Investment Plan (2022-2026); new cashew law designed to strengthen the legislative regime of the cashew nut value chain by adapting it to the current requirements of national and international markets; new law to strengthen support for micro, small and medium-sized enterprises, including tax incentives; and revised draft investment law which introduces provisions to promote responsible investment practices, streamline investment processes, provide protection against expropriation.The program has a strong private sector development focus, with particular emphasis on enhanced private sector participation in key sectors, particularly agro-industry, and a strong job creation potential, including for women and youth, and is therefore expected to positively impact socioeconomic development in Mozambique, said Ms. Leila Mokaddem, Director General of the Banks Southern Africa Regional development and Business Delivery Office. At the end of July 2023, the African Development Bank Groups active portfolio in Mozambique stood at $1.19 billion. Investments cover the energy (48.8 %), transport (32.6 %), agriculture (16.8 %) and social (1.6 %) sectors, as well as multi-sector operations (0.2 %).Distributed by APO Group on behalf of African Development Bank Group (AfDB).Media contact:Alexis Adl,Communication and External Relations Department,media@afdb.orgAbout the African Development Group:The African Development Bank Group is Africas premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information:www.AfDB.orgMedia filesDownload logo
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Nigerian Tenders  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs