Modern Diplomacy
Published 4 hours ago
The World Bank approved today a $100 million grant from the International Development Association (IDA) in support of the Government of Mozambique’s Economic Linkages for Diversification Project, which supports Micro, Small, and Medium Enterprises (MSMEs) develop their capacitities to provide goods and services to larger businesses, as well as serve the growing cities in the center and north of Mozambique, thus fostering linkages and economic diversification.
“Mozambique’s growth has been driven by Foreign Direct Investments (FDI) into capital-intensive industries, which has not translated into adequate levels of job creation,” noted Idah Z. Pswarayi-Riddihough, World Bank Country Director for Mozambique, Madagascar, Comoros, Mauritius, and Seychelles.