5 of April 2016

AfDB will give maximum support to Mozambique for the energy sector

The President of the African Development Bank Group (AfDB), Akinwumi Adesina, was in Maputo, Mozambique on a working visit from April 4-5 2016, where he reaffirmed the commitment of the Bank to continue to support the growing Mozambican economy.

Leading a team of senior Bank staff, Adesina had a joint meeting with the Minister of Economy and Finance, Adriano Maleiane; Energy and Mineral Resources Minister, Pedro Couto; Minister of Agriculture and Food Security, Jose Pacheco; as well as the Governor of the Bank of Mozambique and AfDB Alternate Governor, Ernesto Gove; and the Chairman of the electricity utility company (EDM), Mateus Magala.

In the context of the “High 5” the AfDB’s priorities for the development of Africa – namely to Light up and power Africa, to Feed Africa, to Industrialize Africa, to Integrate Africa, and to Improve the quality of life for the people of Africa – the Bank plans to create an energy sector fund of USD 12 billion over the next five years, and to mobilize about USD 50 billion from the private sector, to ensure universal access to electricity in Africa by 2025.

“I’m very keen to tell you that we will increase the allocation of funds in the field of energy. We will give maximum support to Mozambique for the energy sector,” the AfDB President said.

Photo © AfDB