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Monday, 13 January 2014

Kuwait fronts funding for Mozambican power

Kuwait has agreed to loan Mozambique US 10-million dollars in a credit deal intended to support rural electrification in the north of the southern African country, local media reported on Wednesday.

Finance Minister Manuel Chang, who signed the agreement on behalf of the Mozambican government on Tuesday, says the project has a total cost of US 55-million dollars which will cover the northern-most province of Niassa, and the adjacent districts of Balama and Namuno, in Cabo Delgado province. In an initial phase, the project will cover 32 000 households.The project will allow extensions to the electricity grid, making strategies viable in the government’s five-year upgrade programme.