Mozambique Finance Minister Max Tonela yesterday said that the World Bank will provide the country with US$300m to boost its budget. Meanwhile, the World Bank’s country director in Mozambique said that the grant will assist Mozambique’s recovery from the effects of COVID-19 and structural reforms to foster sustained growth while providing much-needed financing to alleviate recent fiscal constraints. The grant from the World Bank marks the end of a six-year budget financing freeze on the country. The Washington-based lender halted direct support to Mozambique six years ago after a sovereign debt scandal.
