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HomeAfrica EconomyWorld Bank grants US$300m in aid of Mozambique’s recovery

World Bank grants US$300m in aid of Mozambique’s recovery

The World Bank Board of Directors approved in July a US$300 million grant in support of the Mozambique Institutions and Economic Transformation Development Policy Financing (DPF) operation.

The World Bank Board of Directors approved in July a US$300 million grant in support of the Mozambique Institutions and Economic Transformation Development Policy Financing (DPF) operation.

This is the first in a series of three programmatic operations and supports a robust set of reforms aimed at strengthening institutions and laying the foundations for a sustained growth and economic transformation.

The operation supports the authorities in their reform efforts to promote sustainable and inclusive economic growth. The reforms supported by this DPF are organized around three pillars.

The third and final pillar builds on Mozambique’s climate change commitments to support a more resilient and greener growth path, addressing utility sector constraints that limit Mozambique’s productive potential.

The first pillar supports structural reforms to strengthen budgetary institutions and transparency. It consists of two prior actions: enhancing the regulatory and institutional framework for sound and transparent resource revenue management; and improving public procurement governance and transparency.

The second pillar addresses business environment and financial access constraints to support private sector development.

The third and final pillar builds on Mozambique’s climate change commitments to support a more resilient and greener growth path, addressing utility sector constraints that limit Mozambique’s productive potential.

All prior actions and triggers are anchored in the World Bank’s ongoing technical assistance, and knowledge, including the findings of the recently published Country Economic Memorandum,” added Fiseha Haile, the World Bank Senior Economist and the operation’s task team leader.

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