$165 million has been put together by two Chinese banks to help finance three projects in Mozambique . This was according to a statement by Prime Minister Aires Ali, the Agencia de Informacao de Mocambique reported today.
$65 million of this amount will be disbursed by the Export-Import Bank of China, the Maputo-based state-run news agency reported Ali as saying yesterday. The Prime Minister is on a five-day official visit to China.
The Chinese Bank for Development will provide $80 million for the construction of a new cement plant in the central province of Sofala, with capacity to produce 500,000 metric tons per year. It will also grant $20 million to finance a cotton- processing plant in Magude, in the southern province of Maputo.
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