AfDB President on working visit to Mozambique
The President of the African Development Bank Group (AfDB), Akinwumi Adesina, will be in Mozambique on a working visit from April 4-5 2016, leading a high-level Bank delegation. During the visit, President Adesina will be received by the President, Filipe Jacinto Nyusi, and maintain working contacts with the Ministers of Economy and Finance; Energy and Mineral Resources; Agriculture and Food Security; and Land, Environment and Rural Development; as well as the Governor of the Bank of Mozambique, and the Chairman of the EDM (electricity utility company).
In these meetings, it is expected that Adesina will review the Bank’s portfolio of projects and programs in the country. The visit primarily aims to discuss possible areas of cooperation in key sectors such as energy and food security.
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. The Bank also plans to establish transformative partnerships for agriculture with the common goal of feeding Africa.
Since the beginning of its operations in Mozambique in 1977, the AfDB Group has contributed approximately USD 2 billion for 95 operations in the country. Just over half of these funds have been allocated to the transport and agriculture sectors.
The current portfolio of the AfDB in Mozambique consists of 19 projects totaling more than USD 600 million.