
Mozambique: African Development Bank Ups Financial Contribution for Local Content and Job Creation in Mozambique to $2.5 Million
The African Development Bank Group (www.AfDB.org) has approved a grant of $1.5 million to Mozambique to boost the development of local content. The grant is earmarked for Small and Medium-sized Enterprises (SME) targeting local content and women-owned business in the natural resources sector of the nation.
The new approval brings the Bank’s total commitment to SME Development to $2.5 million, following an announcement of a previous financial package of $1 million in June 2021 to the Instituto para a Promoção das Pequenas e Médias Empresas (IPEME) under the Local Content Development Project for Youth-Led and Women in Business MSMEs (MOZYWEB). IPME is funded by the Youth Entrepreneurship and Innovation Multi-Donor Trust Fund (YEI MDTF) (bit.ly/3wPvrCj).
The new financial contrib...