Cooperation between the Zambezi Valley

Agência do Zambeze > News > Cooperation between the Zambezi Valley

A new stage of cooperation between the Zambezi Valley and Germany is underway with the signing of a grant agreement, initialed today in Maputo, between the Zambezi Valley Development Agency (Zambezi Agency) and German Cooperation through KfW – German Development Bank (KfW), worth 12 million euros.

According to the Director General of the Zambezi Agency, Roberto Albino, the grant is intended to “establish a mechanism to support MSMEs by covering the value of the collateral, up to 50%, which will increase their access to subsidized financing by 8-10%”. 

He also explained that the amount, made available by KFW and the Central Bank (of Mozambique), operated by the commercial banks, is part of a sum of around 41 million euros, intended to support the national agribusiness sector, with a focus on the Zambezi Valley region, which covers the provinces of Manica, Tete, Zambézia and Sofala.

Roberto Albino stressed that in the last five years, the Mozambican government, through the Zambezi Agency, has channeled more than USD 100 million, which has benefited around 1,500 MSMEs, with the support of partners such as the World Bank, the Kingdom of the Netherlands, USAID and Italian Cooperation, among others.