African Development Bank approves Mozambique’s Country Strategy paper 2018-2022
Mozambique’s agriculture sector plays a paramount role in its economy, in particular from a rural growth perspective, given its large yet untapped potential for agro-business and agricultural value chains. The private sector also remains a critical player in the country’s development process. However, lack of infrastructure and support to agricultural transformation and value chain development have disadvantaged rural populations and the country’s agriculture potential.
In response to these, the Board of Directors of the African Development Bank Group has approved the Country Strategy Paper (CSP) 2018-2022 to pursue its support to Mozambique in improving its general business environment through investments in infrastructure. The strategy will also help foster a more competitive and diversified economy, incentivize existing and new private sector companies to engage in sectors with potential for higher value added, and job creation.
The CSP 2018-2022 will address Mozambique’s development challenges, notably in rural areas where most of the population dependent on subsistence agriculture and is disconnected from the centers of growth. In addition, the CSP will support the creation of an enabling business environment and energize the private sector through investments in energy and transport infrastructure while opening-up access to local and regional markets.
More specifically, the new CSP will contribute to the Bank’s Light Up and Power Africa, Feed Africa, and Integrate Africa priorities. Governance, climate resilience and gender equality are strategic emphasis areas of the CSP. These will be mainstreamed in the entire Bank’s operations, and within governance particular focus will be placed on the management of natural resources.