The Millennium Challenge Corporation (MCC), a U.S. foreign support agency, has approved a US$500 million program to support Mozambique’s Coastal Connectivity and Resilience Pact.
This program, which follows a memorandum signed with the government earlier this year, aims to address constraints to economic growth through innovative solutions, according to the MCC.
The program will primarily focus on development initiatives in Mozambique’s central province of Zambezia.
It aims to implement climate-friendly measures such as resilient transportation infrastructure, opportunities for the green and blue economy, and policy and institutional reforms that foster effective and sustainable long-term growth.
This marks the second pact between the MCC and Mozambique.
The previous agreement, worth US$506.9 million, was concluded in 2013 and focused on areas such as water supply, sanitation, land ownership, transportation, and agriculture.
The new program aims to improve transport networks in rural areas, promote commercial agriculture through policy and tax reforms, and enhance coastal livelihoods through climate resilience initiatives.
The Millennium Challenge Corporation is a U.S. government-funded agency that provides time-limited grants to support development projects in various countries.
Note: It’s important to refer to official sources for the most up-to-date information on the progress and implementation of the program.