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Tunis 23 June 2006 - The Board of Directors of the African Development Bank (ADB) Group, meeting in regular weekly session, unanimously approved the Country Strategy Paper (CSP) for Mozambique covering the period 2006-2009. The document comes with a funding allocation of UA 178 million, one of the largest from the Bank’s soft loan window – the African Development Fund.
The 3-year strategy, presented by Mr. Frank Black, Country Operations Director, and Mr. Duarte da Silva, Country Economist, proposes to focus Bank interventions in Mozambique on governance and infrastructure areas while aligning the Bank’s development work with the ongoing harmonization and results-based agenda.
At the core of the Bank’s country assistance programming process, the CSP defines the scope of such assistance and represents the institution’s business plan for supporting the country’s national development agenda, which is primarily aimed at stimulating economic growth and reducing poverty.
Board members praised the document and referred to it as "a very good and very well written report and indeed one of the best quality strategies ever produced under the Results-based format".
President Donald Kaberuka, who chaired the session, was also pleased and said "it should serve as a benchmark for other CSPs made by this Bank".