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Agribusiness: AfDB and Italian Technical Cooperation Fund grant more than 640 million CFA francs to Mozambique

29/06/2021
Categories: Economy/Forex

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To help small agribusinesses boost production and quality control, the African Development Bank (AfDB) and funding from the Italian Technical Cooperation Fund have provided a grant of more than FCfa 640 million to Mozambique.

 

The project will allow companies to better exploit national and regional markets, and capitalize on the opportunities created by the African Continental Free Trade Area. According to the Italian ambassador, Dr Gianni Bardini, the grant is likely to intensify bilateral relations in the field of agriculture through the many projects funded by Italian cooperation. The Country Director of the African Development Bank, Dr. Pietro Toigo, noted that the grant will provide essential support to Mozambique, especially in the midst of the socio-economic challenges posed by the Covid-19 pandemic.

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